Bruce Ratner, Moving on Down
Bruce Ratner, the developer behind the controversial Atlantic Yards mega-project, might be on the market for a less expensive home, reports the New York Post. He has sold his current home, a 4,500-square-foot house on a seven-acre estate in Montauk, for $10 million. The Post does not cite a source, but mentions that Ratner is…
Bruce Ratner, the developer behind the controversial Atlantic Yards mega-project, might be on the market for a less expensive home, reports the New York Post. He has sold his current home, a 4,500-square-foot house on a seven-acre estate in Montauk, for $10 million. The Post does not cite a source, but mentions that Ratner is looking in Quogue “for something less pricey, on the ocean, and closer to the city.” The Post asks whether this indicates “tough times” for the developer, but we’re assuming that anyone who can sell their home for $10 million can’t be all that beleaguered.
Ratner Moving West [NY Post]
Photo by Tracy Collins
Hamptons and therebouts has fallen off a cliff. Ratner is wise to have dumped before it worsens. Where’s all the commenters who said the high end is doing okay?
***Bid half off peak comps***
I have no idea about Ratner’s worth but….
Brownstoner and others always make snarky and ill informed comments like: “we’re assuming that anyone who can sell their home for $10 million can’t be all that beleaguered.”
Which is just dumb – because you can be plenty beleaguered and sell your home [for example for] $100M – the sale price is irrelevant, you’d need to know how much equity the seller had AND how much other debts he had. For example Madoff, Drier et al will be selling their homes for millions but they are plenty beleaguered.
I doubt Ratner is destitute but in general I find ill informed snarkiness annoying.
I’ll feel bad when he needs find a 1-bedroom rental for $1,000/month and not have to share it with at least one roach.
Actually, I won’t feel bad.
No source? The press are such scum.