These circumstances are usually related to the current real estate market climate and the individual borrower’s financial situation.Ī short sale typically is executed to prevent a home foreclosure. In such instances, the lender would have the right to approve or disapprove of a proposed sale.Įxtenuating circumstances influence whether or not banks will discount a loan balance. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. This negotiation is all done through communication with a bank’s Loss mitigation department. “Curious people.A short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. “A lot of people have been calling about David Jones,” she said. Despite the fact that he has yet to apply for a single building permit for the Shokan property, Olive Planning, Zoning and Building Department Clerk Stephanie Basalone said her office has received several calls about the purchase. “They can go out to dinner in blue jeans they can go to the supermarket and not be recognized.”īut that anonymity may prove elusive for a star of Bowie’s magnitude. “I think what’s drawing celebrities is that this a place where they don’t have to be ‘on’ all the time,” he said. Safier said many celebrities are being drawn to Ulster County by the “anti-chic” atmosphere of the Catskills. I don’t know if (Bowie) even saw the land before making the purchase.” “She spent a lot of time walking the land. “I think accessibility to the outdoors was very important (to Iman),” he said. Safier, however, said Iman may have been the driving force behind the acquisition. “If you make this place any better, I’ll probably have to move in,” the Web site quotes Bowie as saying.īowie’s publicist declined to comment on the sale. According to the studio’s Web site, Bowie told Allaire staffers that he was “deliriously happy” while working at the picturesque studio with sweeping views of the Catskill Mountains and the Ashokan Reservoir. The only structure listed on the site is a two-story wooden building with no heat, bathrooms, bedrooms or garage.īowie, 56, may have been drawn to the area last year when he recorded his latest album, “Heathen,” at Allaire Studios atop neighboring Tonche Mountain. According to the deed, the land has no sewer system, no water source and no electricity. For $1,162,500, Bowie and his wife got 64 acres of private woods, but not much else. 2, 2002, and Bowie signed under his given name, David R. “If he wants to spend a weekend up there with his friends doing whatever, there’s no way anybody is going to find the place,” Safier said.īowie, who has a home in New York City, is a Rock and Roll Hall of Fame member whose career had spanned more than 35 years and generated such hit songs as “Fame,” “Young Americans,” “Rebel Rebel,” “Changes” and “Let’s Dance.”Īccording to Ulster County records, the sale of the Shokan property took place on Dec. Safier said the property – part of the sprawling Glen Tonche estate, built by glass magnate Raymond Pitcairn in the 1920s – is accessible only by a single gravel road that runs through other deeded properties. “I think the privacy was a real draw (for Bowie and his wife, supermodel Iman),” said Harris Safier, owner of Westwood Metes and Bounds Realty in West Hurley, which sold the mostly undeveloped property on Little Tonche Mountain. SHOKAN – Rock musician David Bowie made a name for himself with glamour and glitter, but his latest real estate purchase – a 64-acre, million-dollar mountaintop piece of land in the Olive hamlet of Shokan – is far from flashy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |