Well, With Only 9 1/2 Baths, What Can You Expect?

Submitted by Steven Meyerowitz on Fri, 08/14/2009 - 7:21am

And in Real Estate news: Long Island newspaper Newsday reports that former Bear Stearns hedge fund manager Ralph Cioffi, who goes on trial next month on charges related to the subprime mortgage meltdown, sold his Southampton home for $8.55 million – after having purchased it for $10.7 million in 2007 and despite its listing price of about $12 million.

 
Leading Long Island Real Estate Broker Laura Cochran of Hough & Guidice Realty in Suffolk County, New York’s Miller Place, believes that “all properties will sell, but large, unique estates continue to suffer from the severe decline and economic dislocations we have been facing for a year.”
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