His legacy in Ireland might be buried beneath receiverships and personal judgments, but it seems that the former Baron of Ballsbridge, Sean Dunne and his wife, Gayle, are still in the game. The US property website Zillow is reporting that a property associated with the Dunnes has sold for USD 5.5m (€4.5m). It should be made clear that Sean has previously denied involvement with the property at 38 Bush Avenue, Belle Haven, Greenwich, Connecticut CT 06830 but it does seem that the property was owned by a trust associated with the Dunnes. Here is a video of the Dunnes being door-stepped at the property under construction in 2011 – they’re clearly not happy with being filmed by a local journalist.
The property was bought for USD 2m in 2010, according to Zillow and underwent extensive remodelling – the neighbours claimed the Dunnes’ “remodelling” was so substantial that they were really demolishing the existing house and building a totally new home. Neighbourly planning disputes ensued but eventually, the demolition and re-build proceeded.
The property had been offered for sale by Sothebys for USD 6.4m, so the USD 5.5m price might represent a slight disappointment, but set against a USD 2m purchase price and even accounting for a new build, the owners – the trust and the beneficiaries of the trust – should be walking away with a profit.
Last year, the Irish Independent reported the Dunnes, or rather a trust operated by a lawyer who is also connected to 38 Bush Avenue, had purchased another property in Connecticut – 42 Bote Road, Stanwich, Connecticut, CT 06830, and indeed, there was speculation the Dunnes had been associated with the purchase of a third property
Regarding “Bote”
“There are six bedrooms served by six baths including a stunning master suite with walk-in custom closet and his/her marble baths, and a staff suite on the expansive lower level comprising two playrooms, one with a fireplace, a home theatre, gym and a powder room…”
http://blog.greenwichct.com/2012/02/08/new-listing-42-bote-road-greenwich-ct-real-estate/
The listing was withdrawn,could be because it was say rented.
Alternatively,perhaps it’s owner/occupied….but also may be between agents.
Currently not listed for sale.
So basically,single handlidly Dunner may have made more profit on a few tear downs,that NAMA managed with 30 Billion of assets,214 Employees,diversified portfolio,5 Billion untapped L of C,and long term in place stupendously low interest rate on its debt!
Must be me………but congrats to whoever tore this down,had it rebuilt,sold it and made a few dollars,probably paid some decent taxes here too.Created quite a few jobs,spent money at local builders providers…
Meanwhile,back in lala land sorry,NAMA land they are engaging in AC gimmicks,slights of hand that would make most public companies blush.