Jailed former Tyco International boss L. Dennis Kozlowski has slashed $3 million off the asking price for his oceanfront pad.
Problem is the “reduced” price is still $19.9 million.
Kozlowski, who is raising money to pay fines and restitution, paid bought the nearly four-acre property nine years ago for $5 million.
the Nantucket Land Council has raised the last of the $14 million it needs to purchase the development rights to 270 acres of environmentally-sensitive Eel Point land owned by Linda Loring.
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According to the Nantucket Independent:
“Despite the real estate slowdown on Nantucket this year, development of the island showed no signs of slowing.
As Nantucket is largely insulated from mainland economic trends, island-specific factors may have had certain minor impacts on Nantucket’s development picture this year. ”
Read Full Article: on Housing Development on Nantucket