It’s straight from the fairy tale – Derek Jeter‘s Hudson Valley Castle. Located near the New York-New Jersey Border, Jeter acquired the ownership of this beautiful property in the early 2000s. This stunning piece of real estate features a main house, a guest house, a pool house and a boathouse. From extensive gardens to a lagoon and views to die for, Jeter’s greenwood lake mansion has it all. It is a gram on the lake with stunning views that seemed like it would be snatched up as soon as it went on the market. However, for 6 years, Jeter’s castle sat quietly in the market – untouched. And even 6 years later, it was sold for just a fraction of the original price. What went wrong that this stunning estate lasted on the market for so long?
The former New York Yankees shortstop originally put it out for a staggering $14.75 million in early 2018. However, according to Business Insider, Jeter purchased the over 4-acre property for just over $400,000 in 2013. Why no profit, though?
If we go by the listings at the time, they said the property has “Extensive lake views await you after climbing the turret stairs and emerging onto the roof. Entertain easily in the pool house and expansive patio space or in the game room and Great Room.” However, the neighbors of the lakehouse property have recently reported that Jeter’s castle is not as secluded as it looks in the pictures and as claimed in the listings. Moreover, if we were to go by Google Maps’ results, Jeter’s castle is located 0.2 miles away from the Greenwood Lake Marina.
Apparently, boats come in and out of that lake throughout the day and the photos in the listings haven’t revealed that. All the potential buyers who visited the property quickly learned it and opted out. Then again, another major reason was the fact that this property was “way too expensive” for Greenwood Lake.
Even back during the Covid-19 pandemic, the castle was taken off the market. The reason is still unknown. Then in the same year, in March, the house was back on the market, but this time, for a lower price. In 2021, the house was discounted for $12.75 million. Yet, no buyers.
Then, eventually, the property was headed to auction with a starting bid of $6.5 million. Despite all the luxury the greenwood lake mansion had, it was still untouched by buyers. Then, finally in May 2024, the house was listed for 45% off the original price (as per Wright Bros. Real Estate) Jeter hoped to get. Lowering the price to $6.3 million worked for Jeter to sell the house estate. It was purchased for nearly $8 million less than the original price.
Sure, Jeter made waves in the world of baseball with 5-time World Series champion with the New York Yankees. However, he might need to get Pat Connaughton’s number and hit him up for real estate lessons.
Milwaukee Bucks’ Pat Connaughton’s $550 million real estate portfolio
Connaughton was drafted by the Baltimore Orioles back in 2014 and received a massive $428,000 signing bonus. He decided to spend it mindfully and naturally he managed to gather a staggering $550 million in real estate to his name in just 7 years. In fact, he has dual-sport magical powers. He has aced his way through both baseball and basketball. In 2018, he landed with the Milwaukee Bucks to start off his career in the NBA.
His first investment properties were around his college campus. Little did he know, this investment is just a foundation for his bigger dreams. The real shocker is he has Co-founded a real estate firm commonly known as “Three Leaf Partners”. Under his guidance, this firm has a total of 700,000 square feet of industrial properties.
The firm is loved by many, as its focus is managing multi-family units and is especially designed to offer a lasting value to various neighborhoods. Just like that, Connaughton could easily be called a jack-of-all-trades, given his excellence in so many fields.
From acing in baseball to making his way in the NBA and now being a real estate champion. Connaughton’s dedication proves his mindset towards life.
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