Pricey digs go unsold: Hub?s new shortage: The Really Rich
By Scott Van Voorhis
Boston Herald Business Reporter

Boston Herald logo Saturday, September 30, 2006

I t?s hard times for Hub business tycoons and sports stars trying to unload multimillion-dollar mansions and condos.

    Dodgers owner Frank McCourt has dropped the price of his Brookline mansion - again - this time to $15.7 million. He put it on the market for a whopping $22 million nearly three years ago, and previously dropped it to about $18 million.

     But he?s not the only multimillionaire striking out in the Boston area?s suddenly chilly real estate market.

    Baseball stars and even one of the nation?s notorious white-collar criminals are feeling the pain, with Bay State homes sales plunging more than 20 percent last month.

    And more than just a slowing market may be at work. Some brokers warn of a newly emerging tycoon shortage as some of the Boston area?s top companies move out or are acquired by out-of-state competitors.

    ?It has narrowed the pool of tycoons, which is decreasing the demand for these palatial mansions in such areas as Brookline,? said top Boston residential real estate executive John Ford.

    Sox slugger Manny Ramirez and former-teammate-turned-Yankee Johnny Damon have been swinging- and missing - as they try to unload posh properties.

    Ramirez has struggled to find buyers for his $6.9 million Ritz-Carlton high-rise condo off Washington Street in downtown Boston.

    While Damon is preparing for the playoffs in New York, late in the season he was still trolling for a buyer for his $5.7 million Brookline spread.

     Meanwhile, convicted Tyco looter Dennis Kozlowski appears to have missed the memo about the market downturn.

    Kozlowski tried unsuccessfuly to spark a bidding war for his Nantucket mansion in hopes of scoring a $23 million deal.

     Instead, Kozlowski, now serving time in federal prison, recently missed a court deadline to pay $167 million in fines and restitution. Lawyers blamed his inability to sell several homes. Boston Real Estate Boston Condos

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