Pure Speculation

6 Meadowcroft, $13.5M, one of Gid's favorite houses of all time, now fully available!

6 Meadowcroft, $13.5M, one of Gid’s favorite houses of all time, now fully available!

555 Lake Ave, $26.5M, another Dinyar Wadia masterpiece. Should we add $1.2M to the selling price?

555 Lake Ave, $26.5M, another Dinyar Wadia masterpiece. Should we add $1.2M to that selling price?

The following conjecture involves fellow broker Bill Andruss, so I want to make it clear from the outset that nothing I say actually comes from Bill. Why? Because ol’ Bill, though he sits mere steps away from my own office, never, ever reveals anything about his business to me, or anyone else!

Want to know just how secretive ol’ Billy boy is? Let’s say, for instance, I was up in Maine, and I decided to speed-dial Bill and say, “How’s the weather down there in Greenwich, William, old chum?”, Bill would answer something like, “I’m not sure.”

Get the picture? “Tight-lipped” is this man’s trademark. Only broker Heather Platt can match him in “tight-lip-ed-ness”.

I can hear you saying to yourself, “Well, good for him, just the sort of chap I would want as a broker!”. Agreed, none better than Bill.  But there is this: I know many successful brokers who will happily blab the details of whatever deal they’re working on, and they sell just as much as Bill and Heather! Obviously, no one ever mentions clients by name, but deal details? To fellow brokers? Absolutely. Anyway, you get the idea.

Have I laid the groundwork? Good.

So I’ve recently written about the extraordinarily quick deal done on this place:

555 Lake Avenue, $26,500,000, remember? About 10 minutes on the market?  Broker Bill Andruss, as noted in a previous post, provided the buyer.

By coincidence, broker Andruss also provided the buyer for this place:

6 Meadowcroft Lane,  $13,500,000.

And, in an even more amazing coincidence, 555 Lake Avenue came on the market September 16th, the exact same day 6 Meadowcroft came back on the market!  6 Meadowcroft, you’ll recall, announced a signed deal way back on June 21st, but that deal came to an abrupt halt on… September 16th!

Is it possible, is it remotely possible, that  the buyer of 6 Meadowcroft walked away from a signed deal (and perhaps as much as a $1.2 million dollar downpayment) in order to buy 555 Lake Avenue? Only Bill Andruss knows for sure, and trust me, he ain’t talking!

9 thoughts on “Pure Speculation

    • Shed:
      Yes, that $1.2M “cushion” (we’re assuming a contracted sale price of $12M) does indeed allow the seller to take less from the next buyer. On the other hand, they might also attract the same price or more, in which case, they would typically refund that deposit to the original buyer.
      I’m going to write about deposits shortly.

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