….and we’re back.
First of all, we acknowledge that this home was our Stalefish of the Year. We must say those pictures we posted do not do the home justice, and we’re a bit upset that we forgot our camera. A picture is worth a thousand words, and we really don’t want to write a thousand words.
Formerly owned by Ted Waitt of Gateway Computers, the entire home has been extensively remodeled, but maintains its original character. They spent around $8,000,000 on the renovation and it shows. There are some things that didn’t look totally tip-top, but that’s okay, we’ll let it slide. Every room in the house has million dollar views and you practically feel like you’re sitting on the water. The location alone is priceless. You are literally sitting on top of your very own point. You could probably put a lighthouse out there, and call it Point “my house” when you move in. Enough about the inside. We literally could go on all day talking about it.
What’s more important is the level of activity the home is getting. Most people think that homes like this don’t get many showings, and that is wrong. The phone is ringing, it has been in the New York Times, WSJ, and various other publications, and it is being shown quite regularly. In our humble opinion, the place will sell, and it will sell close to asking. It’s worth it. This is a trophy home. Plain and simple. Keep in mind it sold in March 2000 for $18,000,000 and now has $8,000,000 put into it. Sure it is a different market now, but you can’t easily price priceless.
6 thoughts on “Follow Up to 300 Sea Cliff at $25,000,000”
Umm.. If they bought it for 18 and put 8 million into it, why are they trying to sell it at a million dollar loss? Why did the bother fixing it as opposed to just dropping the price? Plus they’ve probably paid over a million in property taxes. Where’s the logic here?
You’re right. I thought the same thing. I’ll dig a little deeper and see what I can find out, and post what I do find. I’m going off of what I saw in MLS. Which isn’t always the most accurate. My bad. I’m new at this blog thing. Also, when you get into these price ranges a lot of things oddly enough come down to ego. You’d be amazed how many people lose TONS of money when trading properties of this caliber. Standby.
Thanks for the reply. I always enjoy the newsletter and the blog looks very promising. I hope someday this house sells.
“I’m going off of what I saw in MLS. Which isn’t always the most accurate.”
Nice. Isn’t that the cornerstone of most real estate transactions?
Editor’s note: Yes, and it is unfortunate. That is why it is important to talk to others in the business and not rely too heavily on internet sites that pull their data from MLS before making your purchasing/selling decisions. There are things that are left out of MLS on many an occasion, the biggies being square footage and “actual” sales price. In MLS when there is an * next to sales price, the actual price is not disclosed (as is the case on 300 Sea Cliff). Some clients don’t want that information disclosed. Price for privacy reasons when you’re talking many millions of dollars, and square footage because there are a lot of older buildings here in the city, and what is “on record” may not be totally accurate either, so sellers don’t want to be sued, neither do brokers, for any mis-statement of information. That is why on most property profiles you’ll see something like 4444 square feet (per tax records). Best to get an appraiser in and have them measure for you if it is an issue. Any other questions about this, feel free to “ask an expert” and we’ll forward your question on to our team.