John Paulson, who made a killing shorting the individual mortgages of down-on-luck friends out East, has been forced to slash the asking price of his Southampton home for a second time. The 6,800 square foot house, which the other Paulson bought in 2006 for $12.75 million, is now going for the bargain basement price of $13.9 million. Big P was originally hoping to get $19.5 million, but lowered his expectations to $16.9 million in September after the shack sat on the market for four months.
Hedge-Fund Guru Paulson Cuts House Price Once More [WSJ via Cityfile]
Posted by guest , Nov 14, 2008 4:19PM
I bid $1, Bob.
Posted by guest , Nov 14, 2008 4:23PM
Overpriced crap Bob-No bid
Posted by guest , Nov 14, 2008 4:25PM
What an ugly house.
Posted by guest , Nov 14, 2008 4:27PM
Hey when is the election - I cannot wait to rock the vote
Posted by guest , Nov 14, 2008 4:27PM
That house looks like the guest house on my estate...ha, fuckin poor people
Posted by Anal_yst , Nov 14, 2008 4:28PM
Ha, 65" sony xbr rear projection in the bedroom! I'm really dissapointed, with bank like him I'd at least have a 103" panasonic, bare minimum.
Posted by guest , Nov 14, 2008 4:35PM
Well, the uber rich are buying out of the country now. The baja penninsula is nice these days and so is costa rica and singapore. The Hamptons is so "wanna be" now.
Posted by guest , Nov 14, 2008 4:37PM
Why do people never think when they are buying in the booming market? When you go to sell in the down market things like curb appeal matter.
Posted by guest , Nov 14, 2008 4:39PM
Boo-hoo so he'll only make a mil on this piece of prop. Add it to the BILLION he made last year...
If I have 14m for a house i sure as fuck am not buyin in the Hamptons - Lake Como, St. Moritz, Villfranche...H to IZZO!
I don't make money - I print it.
Posted by Anal_yst , Nov 14, 2008 4:45PM
Concurr with #7/8/9, naturally, but wouldn't mind Bermuda on that list, short hop to NYC and such
Posted by Anal_yst , Nov 14, 2008 4:46PM
Concurr with #7/8/9, naturally, but wouldn't mind Bermuda on that list, short hop to NYC and such
Posted by Bulging Bracket , Nov 14, 2008 4:57PM
Anal_yst - not a fan of Bermuda... it's not warm enough. BVI is far better: climate, sailing, culture. Plus no reinsurers or company headquarters. Bermuda reminds me too much of work for it to actually be relaxing and it's not a great place for vacation sailing.
I want to be out on a small keel boat or cat with mass quantities of rum and a girl in a bikini. If you go sailing near Bermuda you need to be paying attention and need experienced crew! Leave Bermuda to old people, golfing vacations, and the race from Newport.
Posted by TALUFA , Nov 14, 2008 4:59PM
We should get a viral effort together and start bidding 100k or less on his property. Have everyone who's getting their ass torn out by a real estate investment submit an offer, then start lowball offering on his neighbors homes. Just depress the fuck out of the real estate agents in the area and take down confidence in the southhampton market.
Paulson: *ring ring* "Lackey, how are my offers looking today?"
Satan: "Boss, not so good. This is the 147th offer under 100k. Perhaps you should think about lowering the price a bit?"
Paulson: "Nonsense! It's my Bush-given right to make a profit despite the coast to coast housing crash! I'll just ask Bernie to cut the rate again. Stir up some easy financing."
*Knock Knock*
Bernie! "My man! Hows about cutting the rate again? My summer home has been sitting around to long and Lupe the maid is starting to drink her way through my cellar. Again."
Bernie: *raising the roof* "BIG PIMPIN, WE SPENDING CHEESE! BIG PIMPIN ON T.A.R.P's...check em out now!"
Paulson: "Bernie! Put the IPOD down! I need some liquidity! My Borolo is at stake here!"
Bernie: "Yo, son. I was just brushing up for my meeting with Obama. You want lines, kid? I got the ya-oh...you mean lines of credit! I'll just holla at the Fed on the bat phone. We'll slice that rate like Ginsu, ya'feel me!?"
Paulson: *knuckle pound* "Good lookin out, kid. I gotta get back to crushing some sucka hedge MD's."
Bernie: "Word."
Posted by Anal_yst , Nov 14, 2008 5:05PM
@ BB
respect BVI, good call
Posted by guest , Nov 14, 2008 5:42PM
he'll end up selling for 1.5M
Posted by guest , Nov 14, 2008 5:53PM
The market in the Hamptons according to an article in last Sunday's times is well not up to speed anymore.
Posted by guest , Nov 14, 2008 5:55PM
Ya know, sometimes to keep your primary residence you have to sell house number 2 and 3. It's the economy.
Posted by Peaktrade , Nov 14, 2008 7:30PM
Who would pay that kind of money in the first place for such and ugly house, his taste is obviously up his ass...
Posted by Peaktrade , Nov 14, 2008 7:30PM
Who would pay that kind of money in the first place for such an ugly house, his taste is obviously up his ass...
Posted by Peaktrade , Nov 14, 2008 7:30PM
Who would pay that kind of money in the first place for such an ugly house, his taste is obviously up his ass...
Posted by guest , Nov 14, 2008 7:49PM
tmw; db
(too many windows; didn't buy)
Posted by guest , Nov 14, 2008 7:57PM
It's not that ugly, it's just big and ostentatious.
Hate the fake rap stuff.
Hey, you haters, you think a rap routine is going to go over with Obama? Who do you think he is, 50 Cent? And who do you think you are? White boys in finance in their 20s doing fake rapping for satirical purposes is just ... so ... lame.
Posted by guest , Nov 15, 2008 7:10AM
@13
A knuckle pound is now referred to as a "terrorist fist jab." Please amend accordingly.
Posted by guest , Nov 15, 2008 8:40AM
I bid $2.
Posted by guest , Nov 15, 2008 10:30AM
Makes billions by shorting the real estate bubble. Can't have his cake and eat it too.
Posted by guest , Nov 16, 2008 1:19PM
That house is ugly? Looks like a tradition east coast house to me... haters.
Posted by guest , Nov 16, 2008 3:05PM
FSA'd on Davies St
Posted by guest , Nov 17, 2008 1:13PM
#25, agree.
He needs to go back to his own Koolaid (which was truth), take a big sip, and ask 10% below 2006 cost hoping to recoup 75-80%. I'm sure he could use the loss somewhere and it's not like the Hamptons market is unaffected by financial system carnage.