Harvard's longtime fencing coach sold his suburban Boston home for nearly double its assessed value to a man whose son was later admitted to the school and joined the fencing team -- a transaction that shocked realtors and is now under review by the university -- the ABC News website reports today (April 6, 2019).
The coach, Peter Brand, received nearly $1 million in 2016 for the three-bedroom house on a quarter-acre in Needham, Mass., which was assessed at the time at $549,300.
The buyer, Jie Zhao, never lived in the home and sold it for a steep loss 17 months later.
The sale appears unrelated to the recent college admissions scandal in which wealthy parents have been charged with bribing coaches and helping rig standardized test scores to get their children into some of the nation's most selective schools, said Claudine Gay, Harvard's dean of the faculty of arts and sciences.
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