After nearly two years, questions remain unanswered, including:
- Circumstances around the price Ganim paid and sold the property
- The 66% property tax cut
- Possible alteration of city records
- Valuable, separate lot that was quietly bundled into the transaction
From the 11/2023 article:
While Bridgeport mayor Joseph Ganim’s true residence has been a subject of ongoing speculation for years, he lists his residence as 37 Thorne Place in Bridgeport’s Black Rock neighborhood. Counterintuitively, with that long-sought info come many questions. The property was purchased in 2021 for far below market value and also received a 65% property tax cut. Included in the purchase for $0 was what appears to be the front yard, but is a separate .28-acre lot labeled 57 Thorne Place. This parcel, where a developer could conceivably build a multimillion residence, is only assessed at $16,530.
In 2021, Ganim bought the property for just $333,000, far below its list price of $699,900. While MLS and real estate websites such as Zillow and Trulia list its correct sale history, the field card in Bridgeport property records show the purchase price of this transaction and even earlier ones as $0. In this same first year of ownership, Zillow shows that 37 Thorne received a property tax reduction from approx. $30,000/year to $10,000. The Board of Assessment Appeals spreadsheet does not list the address with the tax cut. Also, the 2024 property card on file does not list the earlier years, which clearly show the assessment cut Ganim received on the property. Ganim sold the house and vacant parcel in May 2023 for $1.1 million. Despite the sale, according to his mayoral campaign filings, Ganim still declares 37 Thorne Place his residence.
