Heard about this on the radio today.
This article is dated. From what I understood, it hasn't sold. clo
Take a look:
http://www.nytimes.com/2008/07/12/nyregion/12auction.html
Published: July 12, 2008
More like a castle crossed with a palazzo, a lodge and maybe a manor with, as Mr. Cheslock put it, a “kind of French-Mediterranean-Italian thing going on.” The Cheslocks, who sold their previous home in Greenwich for $12 million, bought the property for $7 million in 2000, spent nearly $14 million and four years building the house, and put it on the market in 2006 for $31 million. No takers.
As the real estate market slowed and the overall economy worsened, the couple grew anxious, not least because a merchant banking firm that Mr. Cheslock co-owned lost $100 million in value, leaving his net worth at, by his own off-the-cuff accounting, “something just under $100 million.”
So, borrowing a page from the foreclosure world, the Cheslocks on Friday opened a five-week auction with bids starting at $19 million.
“Like two-thirds of what we think it’s worth,” Mrs. Cheslock said.
DO SOMETHING!
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