Thursday, September 9, 2010

Housing Crisis Hitting The Upper-Ultra-Beyond-Rich Class?

March 4, 2009 by gtsay  
Filed under Real Estate Blog

Hardknock Life For the Rich And Famous

According to the prominent real estate valuation site, this 11 bedroom 11 bath mansion in the Hamptons recently sold for a whopping … $27k.  Yes,”K” as in thousand.

120-meadow

House Facts:

Address:

120 Meadow Lane

Southhampton, NY 11968

  • Multi family
  • 11 beds
  • 11.0 bath
  • 14,522 sqft
  • Lot 84,942 sqft
  • Built in 1982


Notice the annual tax costs twice as much as the sold price.

ZESTIMATE®: $20,228,000
* Value Range: $1,820,520 – $22,453,080
* 30-day change: $607,500
* Zestimate updated: 03/04/2009

Last sale and tax info

Sold 01/02/2009:
$27,000
2007 Property Tax:
$53,500

History On This House

After a little digging, it appears that this fine property was owned by John and Lauren Veronis, which fetched $27 million recently, sold to James Nicholson, the CFO of Nektar Therapeutics, Inc.

Veronis is co-founder and managing partner of Veronis Suhler Stevenson, an independent media merchant bank,and he also founded the Psychology Today magazine, and was once editor of Ladies Home Journal. Lauren Veronis is a philanthropist and socialite who is also the mother of newswoman Perri Peltz.

The Verdict

Zillow sucks.  Three zeros make a big difference fellas.

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