Greenwich, Conn., Estate Carries $120 Million In Mortgage Debt

Posted by Patrick Barnard on July 15, 2013 No Comments
Categories : Mortgage Servicing

14081_greenwich_mansion Greenwich, Conn., Estate Carries $120 Million In Mortgage Debt Imagine having a $120 million mortgage?

According to a report in the New York Times, an estate in Greenwich, Conn., that is currently on the market for $190 million – one of the most expensive properties ever listed in the country – carries with it about $120 million in mortgages.

The 15,000-square-foot mansion, currently owned by the Rudley family, was built in 1898 by George Lauder, a co-founder of Andrew Carnegie's U.S. Steel Co.

The article includes a detailed history of how the mortgage debt became as high as it has.

The asking price for the 50-acre waterfront estate works out to about $9 million per acre.

Of course, it is unlikely that the estate will actually fetch $190 million – but then again, with property values on the rise, who knows?

For more, check out the New York Times report.

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