Chieftans continues to underperform

Maybe a temporary shelter for our midnight arrivals from Venezuela?

2 Chieftans Road, part of the former Gimbel Estate development off King Street, was originally priced in August at $4.1 million, and today has finally taken its first small price cut, to $3.850.

These owners paid $2.850 when it was new in March 1998, and according to the government’s handy inflation calculator, that would be $5,236,399 in current dollars. Of course, they’ve had the use of the house for 24 years, but still, locations under the Westchester Airport flightpath do tend to be a drag on the market.