08/02/08 Antares sold two Greenwich apartment complexes under the threat of foreclosure and Antares Mansions L.L.C. didn’t fare much better.

$28 MILLION, UNFINISHED
This 35,000-square-foot estate built on spec and still unsold is listed as having two elevators, an indoor pool and a wine cellar.

Antares lays an egg

by chris fountain

Despite Antares's best efforts, including a phony PR visit by A Rod last summer to this 35,000 square foot instant white elephant the partnership's mansion project is in complete disarray. How'd you like to be the chump who paid $10,000,000 for your house one month and watch the identical house next door sell for six just five weeks later?

Please see:

A Misstep in Mansions

New York Times

By LISA PREVOST

A plan to build houses aimed at buyers looking in the $10 million-and-up range has fallen apart after just three mansions..

Please read more from Greenwich Based For What It's Worth:

• Connecticut windfall
• Dinosaurs at the Gate!
• Greenspan - "Housing slump to continue"
• Asbestos? Yawn.
• Eco Hysteria
• Fill a tire, save the world
• Anything can happen but don't count on it
• Flipping houses for fun and profit
• New vs. experienced agents
• Here's a depressing opinion piece
• Here's a good value
• Cheesey or sleazy?
• Going Down?

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