Recall Sean Dunne’s controversial house that he bought in Greenwich, Connecticut in 2010 and began redevelopment shortly thereafter. He managed to upset his neighbours by supposedly working around zoning laws and ignoring a stop-work order. It was covered by the Dail Mail here.
The house was purchased for $2 million in April 2010. It was stripped to the bare studs and extensively rebuilt as a much larger house.
What was left of the original house:
img853.imageshack.us/img853/7443/article13362110c5fc31d0.jpg
Denies any connection despite having the address listed as his home address with the secretary of the state’s office:
img687.imageshack.us/img687/336/628x4711.jpg
The finished product: 8,900 sq ft with six bedrooms and nine bathrooms. It went on sale within the past couple of weeks:
img855.imageshack.us/img855/8010/pictureuh529c548a5696b1.jpg
img14.imageshack.us/img14/152/pictureuhacbaea293e285c.jpg
img651.imageshack.us/img651/8448/ld5628f43w2x.jpg
Asking price is $6,395,000 and it is listed for sale here and here
So $6.4 million less purchase price of $2 million less construction cost of probably $2 million (at most) equals a potential profit of $2.4 million. No doubt he’ll be writing a cheque to the Irish taxpayer as soon as the sale concludes.