Whilst NAMA might be plotting its next moves against the “Baron of Ballsbridge”, Sean Dunne who yesterday consented to €184.3m judgment orders in favour of the Agency, on the other side of the pond, a property controversially associated with the Carlow-born developer has come on the market through Sotheby’s International and thepropertypin should be acknowledged here for covering this development. 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 at being filmed by a local journalist.
In any event, no 38 was purchased for USD 2m (€1.5m) in April 2010, was subsequently largely demolished and after a nasty little planning battle with the neighbours, a 9,000 sq ft “Olde New Englande”-style mansion with seven bedrooms and nine bathrooms was constructed on the 0.6 acre site. Sotheby’s is offering the property for sale at USD 6,395,000 (€4,873,000) – at USD 718 psf, it’s on the low side compared with recent local sales.
The photographs of the property show a smart two-storey over basement property with an obligatory Irish sun-room tacked onto one side. The Belle Haven suburb of Greenwich has its own private security force and is home to some of the great and good of American society including singer Diana Ross and an army of corporate leaders.
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 bought a third property.
What does all of this mean for NAMA’s judgment orders? Difficult to know, but presumably that is why NAMA engaged “asset tracing” specialists with experience of operating in the United States.
There is a feature blogpost on the Dunnes and their American adventures here, and there is also a blogpost on the judgment orders here.
Dunner,not the only expat lookin to raise a few bob these days,one wonders does NAMA approve ?
“Treasury China Trust wishes to announce that Beijing Logistics Park, a 75,028 square metre logistics project in Beijing, comprising 73,662sqm of lettable space and 1,366sqm of utility facilities has been placed on the market for sale through international real estate services provider CB Richard Ellis following the achievement of 100% leasing pre-commitment for the property which is scheduled for completion in April 2012”
http://www.btinvest.com.sg/markets/news/45418.html?source=si_news
http://www.treasuryholdings.com/property_portfolio/property_china/development_investment_china/beijing_dev/beijing_international_logistics_centre_dev/
Closed earlier this month for 5.5million nice work Gayle !
http://www.zillow.com/homedetails/38-Bush-Ave-Greenwich-CT-06830/58786103_zpid/