New York real estate tycoon Elie Hirschfeld has sold a recently renovated residential estate in the Kings Point section of Great Neck, Long Island for $5.5 million, he announced today, shortly after the closing.
Hirschfeld, who lives primarily in Manhattan, purchased the Tudor style home, at 192 Kings Point Road, for $4 million in 2008 as a renovation project, and proceeded to gut the property’s interior, a spokesperson for the mogul said.
“[He] finished the design about a year ago — because it was a pet project . He enjoyed doing the work and oversaw it himself together with Stephen Byrns, a former New York City Landmarks [Preservation Commission] commissioner, who was the architect on the project,” the spokesperson said.
The 7,500-square-foot home was “bought with intent to renovate and sell,” Hirschfeld added. “The market declined after the 2008 recession, but since we did excellent work here, this home exudes quality. It recovered value and more, and we succeeded in profiting on the sale.”
Although it maintains its historic exterior, the house now boasts high-tech amenities; it has tennis and basketball courts as well as a heated pool, according to the listing. Ilene Parsont of Soheila Sharf Realty represented Hirschfeld in the transaction; she was not immediately available for comment.
Hirschfeld’s spokesperson declined to comment on the identity of the buyer other than to say that he works in the medical industry.