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.
Agents Bid For Right to Sell Van Dusen Mansion
Dan Browning, Star-Tribune, 21 Jan 2010