Surely the current residents wouldn’t mind paying for access past the gate? LOL!
BWA-HAHAHA!!!
The mayor’s mansion is in that gated cul-de-sac. They have private security out front, and you or I can’t even walk through - we’re serfs.
LET THEM EAT CAKE!!
God Bless America.
Taxes are for the little people -until the little people buy the street you neglected to pay taxes on.
Charge the residents a toll!
Run tour busses so the paying public can view the freaks!
Real life Monopoly. Rofl
I love this article. It strikes home into the Ultra Rich Democrats who are elitists
This is really interesting., We live on a private road with six other residents, but each of us owns that portion of the road that passes in front of our home, and as a consequence, is taxed as part of the land we own on which our home sits. Evidently, in this case, the street is a separate and distinct parcel that is subject to it’s own property tax assessment as privately owned land. I hope these two make a bundle here.
“Hey, San Francisco, the Folsom Street Fair has a new venue, and it’s 24/7/365!” They’ll pay up.
IIRC it's something like $15 to cross the George Washington Bridge with an EZ Pass transponder and more if you're paying cash.These people can charge $15 bucks every time residents of the street want to leave their driveways.They can do it with cars *and* bikes.
IMO they made a very smart investment.
Now that is too funny!
BAHAHAHAHAHAHAHA!!!!
Tina Lam and Michael Cheng snatched up Presidio Terrace — the block-long, private oval street lined by 35 megamillion-dollar mansions — for $90,000 and change in a city-run auction stemming from an unpaid tax bill. They outlasted several other bidders.
Now they’re looking to cash in — maybe by charging the residents of those mansions to park on their own private street.
The couple’s purchase appears to be the culmination of a comedy of errors involving a $14-a-year property tax bill that the homeowners association failed to pay for three decades.
Past homeowners have included Sen. Dianne Feinstein and her financier husband, Richard Blum; House Democratic leader Nancy Pelosi; and the late Mayor Joseph Alioto. A guard is stationed round the clock at the stone-gate entrance to the street to keep the curious away.
The schadenfreude is strong today.
Oh, stop, please, you're breaking my heart!
Since the couple owns the sidewalks I guess they could charge people for walking their dogs, no?
Very soon it will be illegal for individuals to own streets.
This is not sustainable! In the interests of protecting the planet from global warming and water shortages, the new owners should remove the irrigation and install rock beds and cactus!
35 homes you say? I’d sell 35 shares for right-of-way, for $90,000 apiece, and be done with it. Most of my portfolio doesn’t pay quite that well!
Tollway?
Sell back to the homeowners at three times his cost?
I like the selling of parking spots to others.
This is great!
Ibvestors should erect a 700 unit public housing section 8 project there. Guaranteed income and it could fit right onto that space if built tall enough.
Just as with the elderly homeowners along South Florida's intracoastal were told after Kelo, their property they owned since the 1970s was now too good for them, and eminent domain blight proceedings commenced.
Watch for the gated road in front of multi-million dollar mansions to suddenly become condemned by the city and seized under the Kelo ruling.
-PJ
p.s. The Florida homeowners won their legal battle.
i love the fact that the purchasers quietly sat on their newly purchased property for two years before starting to do anything with it, making it nearly impossible for the homeowners to make a timely claim.