Page 107 - 914INC - Q1 - 2013

The owner of one of ’s most desirable apartments had four equal, sealed bids after listing it in the spring . The owner decided to sell to the bidder who could solve the following problem: There were three light switches outside in the hallway that lit three different lamps inside the apartment’s foyer. The door was closed and there were no windows in the hallway so there was no way of seeing which switch . turned on which lamp . The owner allowed each bidder to enter the foyer only once to determine which switch turned on which lamp . One of the bidders
immediately called her accountant who gave her the solution and she became the proud owner of the classic junior six. How’d she do it?
2012 Marks Paneth & Shron LLP
®
Riddles are easy. You want something harder? Try the real estate market. We won’t venture a guess as to which direction it’s heading. But we can help our clients answer other big questions like how will recently proposed tax changes affect property values. We’re Marks Paneth & Shron and for the past 100 years, we’ve been helping real estate owners, builders, developers, investors, property managers and REITs make smart financial decisions. We’re trusted advisors to some of the top real estate developers, management companies and prominent real estate families in the New York area. So if you’ve got a riddle, call us at 914.524.9000 or visit markspaneth.com. We’ll shed some light on it.
VISIT MARKSPANETH.COM/LIGHTSWITCH FOR THE SOLUTION.