For a time, the property served its purpose. Steck would compete in cutting competitions, his children would come from San Francisco to hang out on the weekends, “but the one thing I didn’t factor in was that my youngest daughter would decide to live in London, and my oldest would live in NYC, and my other daughter would live in San Francisco,” he says. “The problem with kids is they get older.”
Steck has also started spending more time in Milan, where he has several business interests. On top of that, he’s retired from cutting. It was time, in his own words, to let go.
He says he “probably won’t” get back the money he put into the property, but doesn’t seem overly upset at the prospect of exiting at a loss.
“I’ve gotten a lot of years living here,” he says. “I was never going to outlive the place, so it’s time for someone else to enjoy it.”
This article was provided by Bloomberg News.