The Treasury Secretary needs to unload his Larchmont Tudor stat. T. Geith is asking for $1.635 million for the 5-bedroom pad (up from the $1.602 million he and wife Carole paid in 2004), which is more than comparable homes in the area have been going for recently, but those shacks lack the value added street cred. Somebody make something happen.
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Posted by guest , Mar 10, 2009 12:57PM
whoa, timmay! i wouldn't go trading in your ny digs for some dc ones just yet. did you know there was a contract out on you?
http://www.intrade.com/jsp/intrade/common/c_cd.jsp?conDetailID=670365&z=1236704062442
perhaps you should try renting for a few months til you're past your probationary period.
Posted by guest , Mar 10, 2009 1:00PM
on realtor.com the only one listed at $1.635 mil
http://www.realtor.com/realestateandhomes-detail/32-Maple-Hill-Dr_Larchmont_NY_10538_1106783466
how did you afford this place on a governemnt salary?
nice digs Tim, did you hide any TARP monies in the walls?
Posted by guest , Mar 10, 2009 1:18PM
thats a joke
for that money you could have a sweet place in Scarsdale ith a 75% chance your kids will go Ivy in Scarsdale's #1 Public School-to-Ivy-feeder status (WSJ)...
Good news here, he likes to overpay...which means all the MBS, CDO, SIV crap will be bid up in TALF.....
Posted by guest , Mar 10, 2009 1:19PM
i offer to stop shorting t. geithner on the downtick. upticks only from now on.
full disclosure- v. short geithner.
Posted by guest , Mar 10, 2009 1:20PM
I think this just shows how out of touch he is. If he thinks he can still sell his place for that much...we are fucked.
Posted by guest , Mar 10, 2009 1:22PM
$1 Drew
Posted by guest , Mar 10, 2009 1:22PM
Thats not Larchmont....
Nonsense broker spin.
Google map shows I-95 Expressway is b/w this and Larchmont shores
This is actually in Mamaroneck which is a abit urban/ethnic...and explains the no sale here
Posted by guest , Mar 10, 2009 1:24PM
I he moving into a tree house with the other elves?
Posted by guest , Mar 10, 2009 1:26PM
@3 -- Scarsdale is douche-country.
Posted by guest , Mar 10, 2009 1:27PM
@ 7 - Mamaroneck is a bit urban/ethnic? Wow, just how how white are you?
Posted by guest , Mar 10, 2009 1:28PM
Tim, Carole,
As part of the Scrudential Real Estate team, I am committed to helping you with all of your real estate needs. Give me a call and let's get this thing sold!
Rita Rezko
Realtor,
President's Club Gold Member
Posted by guest , Mar 10, 2009 1:29PM
@7 -- and it is Larchmont dipsh-t. Look up Doucheville on google maps and move there ASAP.
Posted by merkin capital partners , Mar 10, 2009 1:33PM
be careful timmy, this sale will be considered income, and you know what comes with that...or maybe you don't.
Posted by guest , Mar 10, 2009 1:34PM
I'll pay $1m for it. Deal?
Posted by guest , Mar 10, 2009 1:41PM
I bid a lifetime subscription to TurboTax.
Posted by guest , Mar 10, 2009 1:44PM
@2 - Tim Geithner earned a govt. salary until 2001. Since then, he's been at the CFR, the IMF, and the NY Fed. None of those are government agencies. His salary at the NY Fed was about $400k.
Posted by guest , Mar 10, 2009 1:49PM
why does he have to sell? he should just take the train to DC with everyone's favorite ordinary guy...joe "Fontainebleau" biden.
Think of all that could get done if thos e2 could sit down and chat for 2 hrs on a trian...
Posted by KLW , Mar 10, 2009 2:33PM
@7: This house is two blocks away from where I grew up, and is technically in the Unincorporated Area of Larchmont, which is part of Mamaroneck Town but not Mamaroneck Village or Larchmont Village. Do not pretend you understand Westchester zoning; my dad was on the zoning board for a decade and there are STILL things that don't make sense about it.
Posted by cy , Mar 10, 2009 2:35PM
Has to sell causes his ARM is about to reset.
Posted by guest , Mar 10, 2009 2:58PM
@1, yup, see David Smick's op-ed in today's Wash Post, "Tim Geithner's Black Hole" http://www.washingtonpost.com/wp-dyn/content/article/2009/03/09/AR2009030902232.html
Posted by guest , Mar 10, 2009 3:08PM
timmay may want to hold on to that house and rent in d.c. - he may not be long for that town
Posted by guest , Mar 10, 2009 3:15PM
7
You must be moron from Scarsdale PO. There are four elementary schools in the Mamaroneck Free Union School District. Two of them probably have less ethnics than yours as a percentage of students (unless you don't count Asians as ethnics)--one of those is in Larchmont Village and the other is a stone's throw from Geithner's abode.
Oh, and many of those ethnics that are in the two elementary schools are the offspring of diplomats, foreign investment bankers, foreign lawyers, etc. not that there is anything wrong with being the kid of a day laborer.
Those four elementary schools then feed into a single middle school which then feeds into a single high school.
The elementary school with the highest number of "urban/ethnic" kids actually has a full-day program and many other offerings the other three do not have, and no, my kid doesn't go to that school but goes to the one that is near Geithner's house.
Posted by guest , Mar 10, 2009 3:16PM
@18 - My daddy's better than your daddy
Posted by guest , Mar 10, 2009 3:19PM
For half of that here is Scarsdale...
(real Scarsdale, not p.o. box, zipcode, mailing address) ie, Scarsdale School System & whats on your legal deed when you sell.....
http://www.realtor.com/realestateandhomes-detail/968-Post-Rd_Scarsdale_NY_10583_1106702256
http://www.realtor.com/realestateandhomes-detail/14-Wildwood-Rd_Scarsdale_NY_10583_1103724934
SHS WSJ data
http://webreprints.djreprints.com/wsj_tuition_040104.pdf
Posted by guest , Mar 10, 2009 3:24PM
I'm finding this hilarious. Makes me glad for having been raised smart and grounded in regular NJ.
Posted by KLW , Mar 10, 2009 3:55PM
@23: Come on, what did you think a girl from Westchester was going to say, honestly? I'm just here to meet your expectations, fulfill your fantasies, etc. And then cut your balls off in your sleep.
Posted by guest , Mar 10, 2009 6:07PM
@24 -- but then you live in Scarsdale. which sucks.
Posted by guest , Mar 10, 2009 6:42PM
Dear Tim:
Don't forget the tax consequences of your pending sale.
Love,
We who do pay taxes
Posted by guest , Mar 10, 2009 11:30PM
I'm not a fan of Geithner, if only because of the pretty clearly conscious choice to evade taxes. But...this could be a clever move. Here are my thoughts:
(1) He knows he's not doing well and could get whacked by O any minute (O, after all, gave Rev. Wright the kiss of death by saying he "can no more disown him than I can my white grandmother" before chucking him under the bus).
(2) Because of that, he knows financially committing to D.C. could be a bad thing for his family.
(3) But, he knows that appearing NOT to commit to DC increases his chances of getting whacked. What to do, what to do.
(4) List your house asap b/c you're laser-focused on your new life in D.C., BUT list it above market in a horrible economy where real estate, in particular, is cratering.
(5) Positive result = (a) apparent commitment to D.C., (b) apparent belief in a stabilizing home market, (c) de facto excuse not to buy in D.C. prior to whack-job, (d) de facto guarantee you'll have a house to return to post-whack job.
(6) Negative result = (a) some sucker might buy it, resulting in taxes that, no matter that every fibre in his body screams "DODGE! YOU CAN FIND A WAY!", he won't be able to, (b) people who already think he's a hypocrite and stupid will see this as further evidence of what they already believe.
(7) On net, I think this is the first thing Geithner's done that I think is clever, yet not clearly illegal.