How to make a small fortune in our Northeast corner real estate

Start with a large one.

373 Taconic Road, purchased new in 2005 for $9.350 million and re-listed in 2016 at $9.750 has sold for $4.6 million.

I think this buyer still overpaid.

(It’s ironic, perhaps, that the seller is an expert on restructuring corporate debt, yet took almost four years to recognize and acknowledge that he’d been hosed on this purchase back in ‘05.)