The Real Deal New York

Brooke Astor’s Westchester estate sells for less than half of original asking price

December 14, 2011 11:43AM

From left: Brooke Astor and 298 Scarborough Road in Briarcliff Manor, N.Y.

The 64.5 acre Westchester County estate of Brooke Astor, known as Holly Hill, has sold for $6.45 million, according to a press release from Coldwell Banker Residential in Westchester, who represented the buyer.

The new owner intends to live in the circa-1927 stone mansion at 298 Scarborough Road, in Briarcliff Manor, N.Y., according to Tracy Isaacs of Coldwell, who represented the buyer.
Isaacs described the buyer as “a family from the Westchester area who intend to restore it and live in it.”Officials and residents in the Westchester town 30 miles north of New York City were pleased that the sale was not to a developer intent on carving up the ample land.

The estate went on the market three years ago and was first listed at $12.9 million, as was previously reported. There were at least three price reductions over the last three years; the last asking price was $7.45 million.

Industry sources report that an investment of over $2 million would be needed to update the property, which was last renovated in 1965.

The listing agent was David Turner of Houlihan Lawrence in Bedford, N.Y.

In October, the heiress’ apartment at 778 Park Avenue sold for $21 million — a 50 percent discount.

Astor died in 2007 at the age of 105. Her only son, Anthony Marshall, was convicted of attempting to alter her will, which provided $60 million to charities, though he remains out on bail pending appeals. — Guelda Voien

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