The Real Deal New York

Sag Harbor seller hopes for presidential-sized profits

August 31, 2016 06:12PM

Chester A. Arthur and his old summer house at 20 Union Street

Chester A. Arthur and his old summer house at 20 Union Street

UPDATED, 7:20 p.m., Aug. 31: Market watchers are wondering whether a 300 percent price hike is justified for President Chester A. Arthur’s former Sag Harbor home. (He was only president for two years, after all.) The house at 20 Union Street hit the market in August for $14.2 million, Curbed reported, or more than three times what owner Anke Friedrich paid in 2014.

Since making the purchase, Friedrich recruited interior designer Steven Gambrel to completely renovate the three-story, six-bedroom home. It features a library with a fireplace, formal dining and living rooms, a wine cellar, and a media room. Earlier this summer, the property hit the rental market at $390,000 for the period between Memorial Day and Labor Day. [Curbed] — Cathaleen Chen

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