Wednesday, April 11, 2007

UPDATE: Old Trees and Lloyd Blankfein

Real estate is a capricious and complex bizness children and we need to let y'all know about an important update regarding the widely reported purchase of the big ass Old Trees estate in Southampton, NY.

Your Mama did not directly address the Old Trees estate, but we did mention it's reported sale in our piece about Lloyd Blankfein's Sagaponack house being on the market. However, surely the children read about this supposed sale elsewhere.

Anyhoo, Mr. Lloyd Blankfein, the excessively paid CEO of Goldman Sachs, did not actually go to contract on the property for the reported $41,000,000. In fact, according to Max Abelson over at the NY Observer, the deal did not go through and may or may not be dead.

Even more interesting is that the listing has been taken away from Jay Flagg at Prudential Douglas Elliman and given to Harald Grant at Sotheby's for a slightly HIGHER price just over $48,000,000. (The property had been listed at $48,000,000 even). Why the marginally higher price? Who knows.

We're quite sure the extremely well connected and competent Max Abelson will keep us updated on the bruhaha and we will in turn pass his information on to the hungry children.

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