Foreclosures Popping Up in the Country Club Set
About five years ago, I wrote a column for Banker & Tradesman about luxury home sales that mentioned a multi-million dollar mansion that was under construction on Lee Street near Brookline’s country club. The home was listed for $4.65 million at the time.
“It takes the high-end to a whole different level,” the listing agent told me about the home.
Just a few weeks ago the home caught my attention again, and not just because it’s currently on the market again for over $4.6 million.
I was doing some research on WarrenGroupForeclosures.com and the home’s address popped up.
A foreclosure petition was filed back in November. The 6,000-square-foot home is assessed at over $3.2 million.
There are other for-sale multi-million-dollar homes in Brookline that are at risk of foreclosure. Two are located on Woodland Road in desirable Chestnut Hill.
One of them has six bedrooms and is listed for $2.85 million. The lender filed a petition to foreclose in February.
The other home features 8,400-square-feet of living space and is on sale for $4.75 million. The lender started foreclosure proceedings in early May.
Most news stories on foreclosure activity focus on working families in lower-income urban areas. But it’s clear that even the upper-income are hurting.