The second of the Antares partners, Joe Beninati, has put his house up for sale today and so the two developers, Joe B and José Cabrera, are now competing against each other to sell their cheek-by-jowl houses at 42 and 44 Mooreland Road and priced at $26,080 million and $17,199 million respectively. Why the price discrepancy for two houses of equal size? Beats me, but I note that 42 Mooreland is described as designed in a “Euro-style”, a sure predictor of a long-term stay on the market, so perhaps Beninati wants to start high in order to slice his price in half later and make the place look like a bargain.
In addition to the “false bargain” approach, there are two other possible explanations for these wildly enthusiastic prices, or two that I can see, anyway: the first is that it’s some kind of ploy to fend off creditors somehow, by appearing to have the homes up for sale and providing ammunition to fend off the court-appointed appraiser when he reports back to the judge and discloses that there’s no equity in the properties. The second may be that the Boyz actually believe their houses are worth this much – it certainly won’t be the first time they’ve overestimated a property’s value. Either way, I’m sure there will be ample opportunity to visit the homes nd decide for yourself.