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

TRD New York /
Dec.December 14, 2011 11:43 AM
alternate
text
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


Related Articles

arrow_forward_ios
WATCH: LA luxury market snapshot with Jade Mills, Rayni Williams, Stephen Shapiro & Josh Flagg

WATCH: LA luxury market snapshot with Jade Mills, Rayni Williams, Stephen Shapiro & Josh Flagg

WATCH: LA luxury market snapshot with Jade Mills, Rayni Williams, Stephen Shapiro & Josh Flagg
Coldwell Banker CEO Ryan Gorman

Coldwell Banker is waiving franchise fees for minorities

Coldwell Banker is waiving franchise fees for minorities
Welcome to the broker hunger games: Only “the strong will survive.” (Photo credit: Lionsgate)

Welcome to the broker hunger games

Welcome to the broker hunger games
On Collaborative's Christine Lutz and CEO David Wolf

NRT sells On Collaborative by Coldwell Banker to division CEO

NRT sells On Collaborative by Coldwell Banker to division CEO
Joy Kim Metalios’ team and the offices at Greenwich, Connecticut (Credit: Raveis and Google Maps)

Top broker in Greenwich jumps to Houlihan Lawrence

Top broker in Greenwich jumps to Houlihan Lawrence
Coldwell Banker's Joseph Hamdan (Credit: iStock)

Coldwell Banker is coming back to Manhattan

Coldwell Banker is coming back to Manhattan
Compass poaches Coldwell Banker’s top producer Chris Cortazzo

Compass poaches Coldwell Banker’s top producer Chris Cortazzo

Compass poaches Coldwell Banker’s top producer Chris Cortazzo
Tom Brady (L) and Gisele Bundchen arrive at the 2018 Met Gala on May 7, 2018, at the Metropolitan Museum of Art in New York. (Angela Weiss/AFP/Getty Images)

Tom Brady, Gisele home shop in suburbs, North Jersey industrial site sells for $66M & more Tri-State real estate news

Tom Brady, Gisele home shop in suburbs, North Jersey industrial site sells for $66M & more Tri-State real estate news
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...