An abundance of mega-mansions which have been difficult to sell has led billionaire real estate investor Barry Sternlicht to label Greenwich, Connecticut as "maybe the worst housing market in the U.S." However Fred Glick, a real estate veteran who is currently CEO of brokerages Arrivva and U.S. Spaces, believes has suggested renting the mansions out to start-ups and allowing them to work there as seen in San Francisco.
CNBC staffer Kelly Evan explains that San Francisco has a long track record of being the starting point for start-ups, but Greenwich has long been a finishing point for these companies. Glick further explained how to reverse this feeling and attract the start-ups:
But, "if Greenwich itself did something with giving start-ups some tax incentives, I bet you'll get some people out of New York to move up to Greenwich and start getting it going," Glick said.
No word from the neighbors. Yet.