Van Dusen Mansion to be listed for $2million (ish)

by Alex Stenback on January 21, 2010

Star-Tribune reports that the Van Dusen Mansion (being sold off to recover money from an alleged Ponzi) will soon hit the market – real estate agents were submitting bids for the listing rights in Federal Court today:

“…prospective real estate agents agreed that the 117-year-old mansion in Minneapolis, which resembles a Gothic castle with its thick, pink limestone walls, should be listed at just under $2 million.

The Van Dusen underwent a $5.3 million restoration several years ago, but has parking issues and a whopping annual property tax bill exceeding $62,000.”

More proof that alleged ponzi people are not necessarily astute real estate minds, and that the cost of a construction project, large or small, has little to do with the value of the underlying property.
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Agents Bid For Right to Sell Van Dusen Mansion
Dan Browning, Star-Tribune, 21 Jan 2010
[http://www.startribune.com/business/82271172.html]

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