A Famous Neighbor: Is Having One a Good Thing?

Even the most hardcore celebrity hound might not be excited to find the paparazzi on the lawn next door. But wouldn’t the presence of a famous neighbor bump property values, providing measurable cachet to one’s block or building?

That’s not entirely clear, as Joseph Berger reports in this week’s Appraisal column. A house in Mount Kisco, N.Y., that happens to be across the street from Gov. Andrew M. Cuomo’s residence, has been on the market for more than a year. By all accounts, the governor and his girlfriend, Sandra Lee, the Food Network celebrity chef, are cordial neighbors; their house is far from an eyesore and their bucolic hamlet has the additional lure of a desirable school district. The house for sale is priced at a relatively modest $699,000.

A celebrity living on your block or in your building might have its benefits. Noting the constant police presence at the governor’s house, Sue, a neighbor up the road, said with a laugh,“Nobody’s going to rob my house.”

Was your real estate hunt affected by the proximity of the famous? Is a celebrity neighbor a good thing or something to be avoided? Who lives near you, and what story can you tell about living in his or her glow?

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