Way OT: Tyson's house sold 69¢ on the $

[Da_Aisijimo_Gou]

No April's Fool's joke, just 50 Cents' folly

Bought in 2003 for approx $4.1m; sold for about $2.9m after several years of trying for far more

"The estate was costing the rapper almost $70,000 a month to carry, including property taxes and mortgage payments, according to documents related to his Chapter 11 bankruptcy filing in 2015."

 

[temery]

Why would anyone want to live in a house that big? I guess if you're married there could be advantages, but there's likely not more than a few people here who could afford the up keep and taxes, even if they were given the house for free.

I wonder if the lake is filled with Vitamin Water?

Rapper 50 Cent sells massive Connecticut mansion at 84% loss

 

[superjohn]

No April's Fool's joke, just 50 Cents' folly

Bought in 2003 for approx $4.1m; sold for about $2.9m after several years of trying for far more

"The estate was costing the rapper almost $70,000 a month to carry, including property taxes and mortgage payments, according to documents related to his Chapter 11 bankruptcy filing in 2015."

Ben Sisti's house.

 

[Da_Aisijimo_Gou]

Ben Sisti's house.

Another crook

 

[zls44]

nice

 

[Chin Diesel]

Would have been perfect if it sold for $2.05m.

Why??

Wait for it

Wait for it

It would have sold for 50¢ on the dollar.


Bam!!!

 

[Dove]

Ben Sisti's house.

Colonial Realty?

 

[polycom]

Those in the know is the top of the housing market in northern CT way down is or this an anomaly?

 

[Da_Aisijimo_Gou]

Purportedly, 50¢ on the dollar came and went years ago with 50 Cents' reported $6m in renovations. With at least 4 owners' alleged bankrupticies, somehow owning the elephant may not bode well for the latest buyer.

 

[superjohn]

Those in the know is the top of the housing market in northern CT way down is or this an anomaly?

The house was never worth anything. There isn't much of a market for a house with 35 bathrooms and a nightclub with stripper poles.

 

[polycom]

The house was never worth anything. There isn't much of a market for a house with 35 bathrooms and a nightclub with stripper poles.

Don't people who can afford it knockdown homes all the time and build something they actually want?

 

[UconnU]

Nearly a million a year just in carrying costs? lol. This is the type of house you build in like Miami or LA not Farmington.

 

[superjohn]

Don't people who can afford it knockdown homes all the time and build something they actually want?

They do if it's next to the city, oceanfront, great views etc.

Not for a 50,000 sq ft. house in Farmington.

 

[cohenzone]

Another crook

Colonial Realty?

Ben Sisti's house.

The tax payers dodged a big one. Of all their properties, only one had some government assistance. I was with the Feds then. Their accountant was a really nice guy, married to a hs classmate of mine. Her brother was a Colonial insider. Our offices then were in a building where Colonial’s attorneys had their office. My classmates brother’s car was found in our parking lot. He had committed suicide. Sisti had been an electrician. He ultimately partnered with Jon Google, son of a state legislator. And he got a bit carried away. The original house was a mere 35000 sq ft and he added almost another 20000. Aetna owned it for a while as attaining center.

For those who don’t know about Colonial Realty, they made a fortune in mostly apartment development. They rarely had big time investing partners. They had a big number of small time limited partners (the joke was that it was the retirement plan for dentists) who were totally screwed when the fraudulent info Colonial used to inflate the value caught up with them.

 

[polycom]

They do if it's next to the city, oceanfront, great views etc.

Not for a 50,000 sq ft. house in Farmington.

Fair point.

 

[Horatio]

Turn it into a bed in breakfast type of thing I guess.

 

[Hans Sprungfeld]

(the joke was that it was the retirement plan for dentists)

Or allergist, though fortunately only supplemental.

 

[Uconn77Duke74]

Seems it would have been a nice place for Pitino to take recruits.

 

[Dream Jobbed 2.0]

Would be a nice wedding venue or something?

Wasn’t it actually 50 Cents house?

My brother is a Farmington cop and he said that there’s stories of breakins at the house where they couldn’t possibly search the whole place because of the size and number of rooms.

 

[fatlucy]

Purportedly, 50¢ on the dollar came and went years ago with 50 Cents' reported $6m in renovations. With at least 4 owners' alleged bankrupticies, somehow owning the elephant may not bode well for the latest buyer.

White Elephant

 

[Robertelamin]

Anyone remember the Redman “cribs” episode? Well this is the opposite of that. I think he only used it for entertaining and recording but what a stupid thing to buy.

 

[uconnphil2016]

There was talk about turning it into an upscale convalescent home a couple years back

 

[Whtdmd]

That area is populated with million dollar homes. If (big if) the buyer/s (developer) can get pass the town Planning/Zoning comission and build 15-20 new homes on the 17 acres. It will be a pretty good deal. There might even be a contingency on the purchase for something among those lines. The house is a money drain otherwise