Stay Updated with Latest Business News and Views from All Corners of the World.
Saturday, 5 August 2023
Connecticut's sprawling Copper Beech Farm estate sells for a record-breaking $139 million — see inside
A view of the estate's main house and the manicured landscaping.
Daniel Milstein for Sotheby’s International Realty
The $138.83 million transaction represents Connecticut's priciest residential real-estate deal.
The estate once held the record for the country's most expensive home sale at $120 million in 2014.
The property's seller is an LLC with ties to financier Ray Dalio, the Wall Street Journal reported.
A 50-acre estate on a private peninsula in Greenwich, Connecticut, just sold for $138.83 million, breaking the previous record for the most-expensive sale in the state.
Copper Beech Farm was listed in February for $150 million. It last sold in 2014 for $120 million which, at the time, was the priciest sale in the country. That national record has since been beat out by financier Ken Griffin's roughly $240 million purchase of a New York City condo in 2019.
The seller of Copper Beech Farm was The Conservation Institute LLC, a Connecticut company that has ties to hedge fund billionaire Ray Dalio, the Wall Street Journal reported.
Sotheby's International Realty's Leslie McElwreath and Joseph Barbieri represented the seller and Stephanie Bo Li of Douglas Elliman represented the buyer. A spokesperson for Sotheby's declined to comment on the identities of the parties.
In addition to the main house and extensive outdoor amenities, the property includes two structures for hosting guests. Take a look around.
Copper Beech Farm, originally called Kincraig, was built in the 1890s for industrialist John Hamilton Gourlie.
The front of the house.
Daniel Milstein for Sotheby’s International Realty
It was also formerly owned by the Lauder Greenway family. Harriet Lauder Greenway's father helped Andrew Carnegie found US Steel.
The grand entrance to the home with wood paneling and a elegant staircase.
Daniel Milstein for Sotheby’s International Realty
Before its most recent sale, the property traded hands in 2014 for $120 million. The buyer was The Conservation Institute LLC, which is tied to Bridgewater Associates, the hedge fund founded by Ray Dalio.
A foyer with wood paneling and a fireplace.
Daniel Milstein for Sotheby’s International Realty
The 13,519-square-foot main house is in the French Renaissance style and has eight bedrooms and eight bathrooms. It was recently restored.
Another living space with yet another fireplace.
Daniel Milstein for Sotheby’s International Realty
The main house boasts nine fireplaces.
A living room.
Daniel Milstein for Sotheby’s International Realty
Through the living room's French doors is a solarium with a fountain.
A solarium just off of the living room.
Daniel Milstein for Sotheby’s International Realty
The house has a screened porch to enjoy the sun and views of the property's extensive grounds.
A sunroom with views of the Long Island Sound.
Daniel Milstein for Sotheby’s International Realty
The kitchen also lets in a lot of natural light through its massive skylight.
The kitchen.
Daniel Milstein for Sotheby’s International Realty
For casual meals, the kitchen provides a smaller area to eat in.
A small eat-in kitchen area.
Daniel Milstein for Sotheby’s International Realty
For more formal occasions, the wood-paneled dining room with its intricate plaster ceiling has plenty of space for dinner guests.
A formal dining room with plaster tracery ceiling and oak paneling.
Daniel Milstein for Sotheby’s International Realty
The estate's buyer was interested in the property's potential. "There was tremendous opportunity for further development to create a family compound," Barbieri told the Wall Street Journal.
The extensive grounds.
Daniel Milstein for Sotheby’s International Realty
The waterfront estate is located on a private peninsula on the Long Island Sound. It has two private beaches...
An aerial view of the estate and the Long Island Sound.
Daniel Milstein for Sotheby’s International Realty
There's also a 75-foot heated swimming pool that overlooks the Long Island Sound.
The heated outdoor swimming pool.
Daniel Milstein for Sotheby’s International Realty
And it wouldn't be a luxurious property without a grass tennis court, the same kind of court used in the prestigious Wimbledon tournament.
The property's grass tennis court.
Daniel Milstein for Sotheby’s International Realty
There's also a three-bedroom gatehouse and a two-bedroom carriage house on the property.
The two-bedroom carriage house.
Daniel Milstein for Sotheby’s International Realty
"Copper Beech Farm is the crown jewel of the Greenwich coastline," McElwreath said in a press release. "It's an awe-inspiring compound complete with every conceivable luxury for a sophisticated live, work, and play retreat."
A horse weather vane at the top of a carriage house.
Daniel Milstein for Sotheby’s International Realty
No comments:
Post a Comment