Bloomberg reports that former Citi CEO Chuck Prince has been hideously forced to cut the asking price of his Greenwich, Connecticut house, which is now entering its sixth month on the market, to $5.85 million. The price tag is still about a million more than what Prince bought the Tudor for in 2003, but $300,000 less than he was hoping to score from some sucker in '08. This is maddening to all of us but stewing about the injustice isn't going to get us anywhere. We've got to think, god damn it, think.
The way we see it, there are two possible courses of action for Prince to take. The first is to WAKE UP and start realizing that these days, no one's going to pay nearly six million dollars for a 5 bedroom but more importantly only four bathrooms in Greenwich. Take a cue from Valery Kogan, add on ten or fifteen high-flows, then maybe there'll be some interest. The second is to make some money off of your situation. Pitch a show to some network wherein you compete with Lenny Dykstra and Ed McMahon to see who can sell his house first. I'd watch that shit (but not because you, I just want to see Nails's "Dips of Distinction" collection that he keeps in his den). OR: turn the place into a halfway house for disgraced Wall Street CEOs. Tax break, plus just plain fun. You, Stan, Cayne. Spare bedroom for Fuld. Pullout couch for token girl Callan. The combined DVD collection alone would make it worth it.
Chuck Prince Home Sale No Easier Than Fixing Subprime [Bloomberg]