From the NY Post:
Here’s why a bonkers $39M NJ mansion just sold for a measly $4.6M
You thought those friends who snagged a Catskills farmhouse just before all hell broke loose in March 2020 were getting a deal?
Well, in Englewood, New Jersey, the resplendent “Gloria Crest” mansion — once one of the Garden’s State’s most expensive listings at $39 million in 2013 — just closed for a mere $4.6 million, a staggering 88% reduction from its original asking price.
It took a rotating cast of brokers and years of price drops — $25 million in 2014, $24 million in 2015, $12 million in 2018 and even $9.99 million in 2019 — to close the deal.
So what gives?
Built in 1926 for Stefan Poniatowski, a man who said he was Polish royalty, 83 N Woodland St. is a sprawling eight-bedroom estate with some 24,000 square feet in which to frolic like you’re Gatsby.
The handsome pile of private lakefront architecture — with a marble foyer, a jaw-dropping staircase, home theater, gym, an infinity pool and chef’s kitchen — was purchased by Edward Turen, CEO of Control Equity Group, for $4.8 million in 2000.
…
“The estate is stunning and grandiose, but it’s definitely not for the faint of heart. My favorite thing about it is the history,” said Pais. “When you first step in, you feel like your time traveling into a different era.”
Every Bergen County realtor talking about their ’60s shit shack…
“The estate is stunning and grandiose, but it’s definitely not for the faint of heart. My favorite thing about it is the history,” said Pais. “When you first step in, you feel like your time traveling into a different era.”
93-98% of those hospitalized in Texas are unvaccinated. 30-49 year olds make up 29% of hospitalizations, compared to 16% back in January at the last peak .
https://www.texastribune.org/2021/08/27/texas-covid-19-hospitalizations-age/
Gloria Crest…in the end the property can’t be subdivided and sellers finally accepted reality. More modern house next door sold for 6.4 million in March 2021. Just another over priced house that finally sold for market value.
Every Bergen County realtor talking about their ’60s shit shack…
Lol. Love it. It’s warranted… it’s different here. If/when I decide to downsize, I’m writing the description for my house. Think of the adjectives I will use! I may even leave a pack of Chesterfields on the dining room table. Do they still make them? lol.
40 – did you see the house prior to the last sale? Some of that remodel appears to be recent. Wondering what was invested.
I have never been in the house. My understanding is that a major renovation took place after the sale in 2000.
re:”Built in 1926 for Stefan Poniatowski, a man who said he was Polish royalty”
Perhaps they could not get the smell of boiling calf’s feet out of place?
Forbes magazine says he lost it all in the Stock Market crash of 1929, and the crash of silk prices from 35 cents to 3 cents a yard. Factory closed etc..
How much in property taxes did that company sink into this place over the 21 years of ownership. This place was vacant during that time? It’s got to be close to $2 million in property taxes.
Perogies, kielbasa, chesterfields and rhiengold.
Get the Febreez
Fast Eddie says:
August 30, 2021 at 7:28 am
Every Bergen County realtor talking about their ’60s shit shack…
Lol. Love it. It’s warranted… it’s different here. If/when I decide to downsize, I’m writing the description for my house. Think of the adjectives I will use! I may even leave a pack of Chesterfields on the dining room table. Do they still make them? lol.
Just put sauerkraut, crushed burnt cigars, and tuna in all of the vents. Give the place some ambiance.
Back to quick Covid home testing, it’s really needed to keep the RT rate low, the schools open etc.
Here is the press release from August 2020 for the Abbott home test. Was advertised at $5. Well it turns out to cost $12 retail out of pocket, that is without the proctoring and mobile app which is not needed.
What happened to all that government money for testing? Does all that spending not apply to this?
How come I can get the same test in India on Amazon for $4 or a pack of 10 or 20 tests in Germany of a different brand on Amazon for $2 a test.
https://abbott.mediaroom.com/2020-08-26-Abbotts-Fast-5-15-Minute-Easy-to-Use-COVID-19-Antigen-Test-Receives-FDA-Emergency-Use-Authorization-Mobile-App-Displays-Test-Results-to-Help-Our-Return-to-Daily-Life-Ramping-Production-to-50-Million-Tests-a-Month
We should have better testing by now, done at home with the Anigen test followed up by a PCR test for confirmation.
Israeli study says immunity is higher against Delta if you recovered from the Wuhan Covid over the Pfizer vaccine.
“The natural immune protection that develops after a SARS-CoV-2 infection offers considerably more of a shield against the Delta variant of the pandemic coronavirus than two doses of the Pfizer-BioNTech vaccine, according to a large Israeli study that some scientists wish came with a “Don’t try this at home” label. The newly released data show people who once had a SARS-CoV-2 infection were much less likely than never-infected, vaccinated people to get Delta, develop symptoms from it, or become hospitalized with serious COVID-19.”
https://www.sciencemag.org/news/2021/08/having-sars-cov-2-once-confers-much-greater-immunity-vaccine-no-infection-parties
This adds to the reasoning that we need to get the Delta formulated boosters out there ASAP.
Here is the press release from August 2020 for the Abbott home test. Was advertised at $5. Well it turns out to cost $12 retail out of pocket, that is without the proctoring and mobile app which is not needed.
It’s interesting that this changed. I recall it being a requirement of it being approved for use. Sure, there could be end user error, but it had more to do with positive cases being registered and reported. The other factor was ensuring users couldn’t game negative tests if they were used in a passport fashion.
NJ not extending UE benefits, should make for an interesting few months.
My fire inspection company didn’t have enough people to do my annual fire extinguisher inspections, said it would take a week to get on the calendar. Nuts, since it’s a 10 minute thing. Short staffed, no workers.
No surprise there. Billion borrowed, Billions surplus in taxes collected, an additional 6 billion coming from the Feds and yet is no money for 1/2 million unemployed for even one day!
Turns out I was pretty close, $1.2 billion a month.
grim says:
August 25, 2021 at 6:58 am
Cost of extending the 3 programs would be about a billion dollars a month, and that’s assuming conservative benefits numbers.
PUA – 250,000 participants @ $250 a week = $250m monthly
PUEC – 90,000 remaining participants @ $250 a week = $90m monthly
Pandemic $300 – 500,000 participants @ $300 a week = $600m monthly
Pretty sure 100% of the pandemic funds have already been spent or earmarked, and extension is not budgeted.
NJ Rt down to 1.11, steady progress towards getting through the delta wave, another week or two we’re going to see a pretty good downslope.
Nice decline….remind me, how deaths of children aged under 18 from covid in NJ?
I believe the number is 5 since the start of the Pandemic. CDC Suppresses data between 1-9 count so it is an estimate.
Age
0-17 years 5
18-29 years 107
25-34 years 187
30-39 years 291
35-44 years 464
40-49 years 781
45-54 years 1364
50-64 years 4217
55-64 years 3354
65-74 years 5176
75-84 years 6544
85 years + 7815
Total Deaths in NJ as of 08/21 24,972…
Raw data.. https://data.cdc.gov/d/9bhg-hcku/visualization
Yup….5.
Five.
JFC.
About 1.94 million population under age 18 in NJ.
That means the covid death rate in this age cohort – all the youth in the State – during the entire pandemic is…
0.000003
Can we please shut the schools again, please…..the carnage, the carnage…..
Oh, and btw, weren’t they all unvaccinated?
Strap those little fcukers down to a table and jab them!
If only four die over the next 18 months we will have reduced the mortality rate by 20%!!!
Jab, baby, jab!
The End Is Nigh (bystander Edition):
Despite warnings that Kabul was at risk of collapse, Secretary of State Antony Blinken was vacationing in the Hamptons just hours before the Taliban invaded the Afghan capital and toppled the government, according to a report.
On the Friday afternoon before the fall of Kabul on Aug. 15, many senior White House staffers prepared to go on vacation after President Biden left for his Camp David retreat, according to the Washington Post’s detailed timeline of the Taliban takeover.
Blinken headed to the Hamptons, according to the paper.
His family has had a longtime presence in East Hampton, where Blinken’s father, Donald Blinken, a US ambassador to Hungary under President Bill Clinton, has lived seasonally on Lily Pond Lane for some 50 years, the East Hampton Star reported.
Blinken headed to the Hamptons…
Pelosi left town like a vampire tossed into sunshine after Kabul fell. And where is Schumer and that other d1ck with the bulging eyes dreaming about the fake Russian Illusion? How about the squad? Pretty quiet all of a sudden. No one left to blame? Trump bashing no longer getting ratings?
THAR SHE BLOWS! A real whale of a housing bubble!
The National Association of Realtors said on Monday that its Pending Home Sales Index fell 1.8 percent after declined a revised 2.0 percent in June. Analysts polled by Econoday had forecast a 0.3 percent gain.
The index is based on contracts signed last month. These turn into homes sales one to two months later.
“The market may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers,” Lawrence Yun, NAR’s chief economist, said. “Inventory is slowly increasing and home shoppers should begin to see more options in the coming months.
Compared with a year ago, pending sales are down 8.5 percent. That’s largely due to the enormous rise in home buying last summer as families rushed out of city centers and sought out houses with more space for an era of social distancing, working from home, and remote schooling.
Peace out ‘Stan.
US has left, no troops remain.
That’s all that matters and why you will see an increase next year…simply because there will be a ton of new millennial buyers coming to market next year. I just can’t see prices going down first half of this decade.
“The market may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers,” Lawrence Yun, NAR’s chief economist, said. “Inventory is slowly increasing and home shoppers should begin to see more options in the coming months.
Sad a 19 year old lifeguard died. Heard 4 other people were struck also, but can’t validate.
https://ocscanner.news/2021/08/30/seaside-park-lifeguard-struck-by-lightning-cpr-in-progress-medevac-requested/
You ain’t getting me into that, chi.
From 2017-2020, 44 US soldiers were killed in Afghanistan so a sad exit losing 13 more…but that should be it in that sand crusted hellhole.
Juice: Could be the start of the pull back. High prices and in our area high taxes have canceled out low interest rates.
Lots of Americans still trapped in Kabul. Pentagon says unable to get them all out. So much for Biden saying he would stay if need be to get everyone out.
3b,
Months of evacuation notice and none of those final Americans made it to airport. Maybe they want to stay there. What do you expect military to do..sit around waiting until they show up one day..or send Rambo to locate them all?
Bystander: You have a point, but my point is Biden said we would stay until all our out. Now, that is not the case. It goes to credibility. The truth is Biden is overwhelmed by this along with other matters. He is clearly not up to the job. He is too old and too tired. We replaced a lunatic with an old man not up to the job. It’s pretty sad that this is what it’s come to. Too bad there will never be a 3rd party.
“Months of evacuation notice and none of those final Americans made it to airport. Maybe they want to stay there.”
CNBC reporting from people in Afghanistan saying Americans were ‘circling’ the airport in the last day but could not get in/were not allowed through closed gates. Last flight out with civilians was only 40% full.
How do we have falling prices in an environment that has more demand than supply?
I just can’t see it.
3b says:
August 30, 2021 at 6:54 pm
Juice: Could be the start of the pull back. High prices and in our area high taxes have canceled out low interest rates.
Left: I saw that too and yes on CNBC!
Cheapest house in Rumson. 45k price cut…lmao.
https://www.zillow.com/homedetails/7-Meadowbrook-Ave-Rumson-NJ-07760/39364607_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
Rumson is def one of the premium locations in NJ real estate wise. Love that town.
I do think times have changed. I don’t know if we see the busts of the past. Less opportunities, but less bad times.
“Google is not going to go bust. Microsoft is not going to go bust… It’s just like, there is no bubble.”
https://www.bloomberg.com/news/articles/2021-08-27/billionaire-backed-stock-picker-says-bubble-talk-is-for-boomers
But then again, maybe nothing has really changed, and the biggest bust of our life time is right around the corner. It really takes so much work to stay on top of such a fluid subject.
The co-founder of London-based Blue Whale Capital, which has made big consistent gains from Silicon Valley bets, has some advice for market veterans warning of another tech bubble: calm down and buy the dip.
“As Stephen Yiu’s main fund nears 1 billion pounds ($1.4 billion) after doubling its money in four years, the likes of Michael Burry are signaling that investors should beware of frothiness in parts of the tech sector. That doesn’t faze 43 year-old Yiu, who prefers the reliability of Google over Netflix Inc., or brands that are now so ingrained in the minds of millennials that the dot-com crash of two decades ago is a mere blip in their browsing history.”
“People who are “say maybe 10 years older than me, so in their 50s, they probably were in the market at the time, and they got burnt,” Yiu said in an interview at his Mayfair office. “They still think that tech today is the same thing as what happened then, and is going to go bust.””
“Yiu was at university during the dot-com boom, when feverish speculation drove valuations of internet-related shares to stratospheric heights in the late 1990s, leading to a punishing bear market that took years to recover. Now, he says, it’s different. While many tech companies are still expensive, they are ubiquitous in most peoples’ lives, backed up by solid fundamentals and have numerous lines of business that are largely profitable.
Blue Whale’s top holdings are more dominated by brands that have become household names over the past two decades, including Google parent Alphabet Inc., Microsoft Corp. and Adobe Inc. It also owns payment firms Visa Inc. and Mastercard Inc. That’s served his investors well, with those that have been there from the start sitting on a more than 110% gain as of Thursday.
“I think to the younger generation, most people actually understand what’s going on,” said Yiu, whose firm was started in 2017 with a 25 million pound investment from 73 year-old billionaire Peter Hargreaves. “If you look at our top 10, at one point, we are probably direct or indirect users of some of these services ourselves, whether it’s personally or through business.””
Moving past the spam, I’m simply blown away of this 3 minute clip of Dr. Robert Malone speaking 4 years ago about infectious diseases and repurposed drugs. It’s scary how ahead of his time he was.
https://www.youtube.com/watch?v=o33K9KrOMlg
Dr Ivermectin himself?
Brt, go preach about how climate change will help this planet.
Shut up Michael. The adults are talking.