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The Hamptons Home of a Famed Socialite Hits the Market

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“Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, re-nowned for her beauty and wealth. Now Ms. Balsan’s onetime Hamptons home is slated to hit the market priced at $28 million with Tim Davis of the Corcoran Group.

Located on Ox Pasture Road in Southampton, the shingle-style home was built around 1900 and is known as “Gardenside” or “Cara-Mia”. Ms. Balsan, the great-granddaughter of railroad magnate Cornelius Vanderbilt, owned the house until her death in 1964.

According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2007 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2)

In your initial response to the topic you have to answer all 5 questions.

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You are expected to make your own contribution in a main topic as well as respond with value added comments to at least two of your classmates as well as to your instructor.

  1. Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2007). (Round the number of years to the whole number). Please show your work.
  2. Assume that the growth rate you calculated in question #1 remains the same for the next 20 years. Calculate the price of the house in 20 years.Please show your work.
  3. Assume the growth rate that you calculated in #1 prevailed since 1900. Calculate the price of the house in 1900.Please show your work.
  4. Assume the growth rate that you calculated in #1 prevailed since 1900. Which price was paid for the house in 1964?Please show your work.
  5. You were using the time value of money concept to answer the question #3. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer

how to do Harvard referencing

1)

Annual growth =

 

2)

Price in 2034 =

 

3)

Price in 1900 =

 

4)

Price in 1964 =

 

5)

 

The year 1900 is Time Point 0 or T=0 in question 3.  It is the year that we base off and are using as the discounting year of our value.  Even if it’s in the past, it is the year which all the values discount from.  It is because of this that it is T=0.

The Hamptons Home of a Famed Socialite Hits the Market

 

“Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, renowned for her beauty and wealth. Ms. Balsan’s onetime Hamptons home was slated to hit the market priced at $38 million with Tim Davis of the Corcoran Group.

Located on Ox Pasture Road in Southampton, the shingle-style home was built around 1910 and is known as “Gardenside” or “Cara-Mia”. Ms. Balsan, the great-granddaughter of railroad magnate Cornelius Vanderbilt, owned the house until her death in 1954.

According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2002 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2)

 

  1. Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2002). (Round the number of years to the whole number). Please show your work.

 

  1. Assume that the growth rate you calculated in question #1 remains the same for the next 30 years. Calculate the price of the house in 30 years after it was sold by Robert G. Goldstein. Please show your work.

 

 

  1. Assume that the growth rate you calculated in question #1 remains the same since the house was sold. Calculate the price of the house today. (Round the number of years to the whole number). Please show your work.

 

  1. Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1910. Please show your work.

 

 

  1. Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1954. Please show your work.

 

  1. You were using the time value of money concept to answer question #5. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.

 

 

  1. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

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