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Rabu, 24 April 2013

House flippers can’t unload New York castle


Oh, you're going to love this.
It seems that a couple of house flippers bought a New York castle back in 2005, thinking they could make a quick buck. (Actually, the plan was to live there for two years, make a million dollars and buy a brownstone.) It had worked for them before, the New York Times reports: Susan and Manfred Phemister "had been flipping real estate in zip-zip fashion since the mid-1990s, and had made a killing each time."
So in 2005, they picked up a 36,000-square-foot castle in Amsterdam, N.Y., for $800,000. (Click here or on either photo to go to a slideshow.)
Two years and $400,000 in renovations later, they put it on the market for $2 million.
And they haven't unloaded it yet.
The Phemister family includes three children, ages 12, 11 and 9, who have friends over to play dodge ball ... in the 10,000-square-foot gym.
There's a locker room, too. And two turrets, and two kitchens, and two bed-and-breakfast suites. (The Phemisters bring in $60,000 a year from the Amsterdam Castle B&B, they tell the Times.)
The home, built in 1894 as a National Guard armory, is listed on the National Register of Historic Places.
The New York Times story -- headlined "Their Home Is a Castle, Like It or Not" -- contains many more details and pictures. You can also watch the Phemisters' 2006 video tour below:


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