Following up on 101 Dingletown

Back in June 2018, I had this to say about 101 Dingletown Road, one of several failed attempts at spec building by the noted Jianhua Tsoi a/k/a General Tsoi’s Chicken, or just Tsoi Sauce.

June ‘18
101 Dingletown Road is back on the market again, at $3.190 million. The property was once listed for $5.999 back in 2012, but now it's owned by a bank; hence the slightly more realistic price.

But I'm mostly impressed by the resourcefulness of the former owner, who managed to drag out the foreclosure for nine years, from 2009 until this year, while  renting out the place at $10,000 per month. He mitigated his loss, then gave it up to the bank via strict foreclosure and pocketed approximately a million bucks. God bless Connecticut's foreclosure process.

The house itself is a piece of crap, but I suppose the bank will eventually get somewhere around $1.5 -$2 million, and only lose a million or so. [$2 million, it turned out — ed] Cost of doing business. 

In September ‘18, a reader wrote to me, saying that he was tempted to buy at $2, deal with the wetlands and structural problems, and try to flip it “in the mid $3s”. He never acted on that idea but someone else did, paying $2.050 for it in October ‘18, and reselling it this past April 2021 for $3.595.

There’s no particular point to this story, but the address came up in conversation today and I found myself wondering whatever happened to it. Besides, it’s a slow Thursday.