11/05/09 Once Again The Greenwich Time Is A Day Late And A Dollar Short

The Greenwich Time Is Late To Report That......

Sternlicht bets on Greenwich rebound

Raises asking price on 5.8-acre Greenwich estate to $5.95M

By Oshrat Carmiel Bloomberg News

Real estate investor Barry Sternlicht is betting the Greenwich, Connecticut, housing market is making a comeback.


Sternlicht, who helped build Starwood Hotels & Resorts Worldwide Inc. and took his real estate investment company public this year, raised the asking price of his 5.8-acre estate there to $5.95 million, even as the town is headed for its worst year for property sales in more than three decades.

“We increased it because we felt like we were giving it away,” and there was interest in the property, Sternlicht’s broker, Jean Ruggiero of William Raveis Real Estate, said in an interview. “Just because people are lowering their price doesn’t mean it’s right, because he’s not a desperate seller.” .....

PLEASE SEE YESTERDAY'S POST:

11/04/09 If You want To Know What's Really Going On In Greenwich, Then You Have To Read The Out Of Town Newspapers: Greenwich Housing Prices Going Up?

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