Another price cut at David Cone's former Conyers Farm cottage

Bobby Bonilla hits a home run

Cone got out of this property long ago, selling it for $12 million back in 2007, but a subsequent buyer in 2011 hasn’t done as well.

16 Hurlingham has now dropped its price to $19.8 million. Back in July of ‘22 your prescient blogger, commenting on another price cut up here, looked at its original 2021 price of $32 million, its new price of $23 million, and predicted more disappointment to come, along the lines of of the Bobby Bonilla contract:

That’s a whiff. This guy may end up doing no better than the Wilpon brothers, who entered into a very bad deal with another Mets player and didn’t do so well.

Just to remind readers, the “Bonilla Deal” which has been called “The Best Baseball Contract Ever” came about in 2000, when the Mets owners, the Wilpon brothers, agreed to defer payment of the $5.9 milion they owed him until 2011, when they would begin paying him $1.9 million a year, to continue through 2035. Bonilla injured himself before the first game with his new team, never played again, and now every July 1st he celebrates the receipt of his annual payment. Bonilla’s deal is earning him 8% annually, while the Wilpons, who chose to hang on to that $5.9 million so that they could continue to receive 25% a year on their “investment” with Bernie Madoff, didn’t do as well.

The current owner of 16 Hurlingham bought it for $11.9 million in 2014, tried unsuccessfully to resell it for $13.9 in 2015, then went ahead with a complete renovation, and brought it back to the market in 2021 at $32 million. Perhaps, like the Wilpons, he too will find himself wishing he’d put his money into a different venture.