Another Black Eye: Would-be Chancellor’s Connecticut Home Sells at a Discount

Mayor Bloomberg’s nominee to run the city schools (and maybe the entire city!) just can’t catch a break. Besides the constant criticism, former Hearst head Cathleen Black also lost out on her former Connecticut home, a five-bedroom antique colonial on 27 acres in Litchfield County. It has a barn and a pool, and yet it still sold for a 15 percent discount, according to The Times.

It’s not all bad news, as Black bought the place for $1.3 million in 1998 while it recently sold for $1.98 million, though that is still well below the $2.35
million ask. The Times notes that the house was only on the market for two months before going into contract, so read into that what you will.

The Observer can’t help but wonder if the news of this sale somehow played into last night’s decision by a panel of experts that Black should not become chancellor. After all, the mayor has been touting her business acumen as a necessity for righting the city’s cantankerous school system. If she can’t even get the price she wants for her home, how is she supposed to strike a favorable deal with the teachers unions?

Don’t feel too bad for Black, though. Even if she doesn’t get the job, she still has a Park Avenue penthouse and a Hamptons estate to go home to.