“Money Pit” home hits the market asking $12.5M

The Long Island estate was featured in a 1986 Tom Hanks film

New York /
Jun.June 15, 2014 09:00 AM

A Long Island mansion featured in the 1986 Tom Hanks comedy, “The Money Pit” – appropriately about a nightmare of a fixer-upper – has hit the market asking $12.5 million.

Built in 1898, the eight-bedroom house, located in Lattingtown, N.Y., has been totally renovated, and decorated in Versace-esque style, according to the New York Times.

“It’s now the anti-‘Money Pit,’” listing broker Shawn Elliott of Shawn Elliott Luxury Homes & Estates told the Times. “The home was restored at the highest quality.”

When the film was shot, the home belonged to Eric Ridder, a publisher and a member of the American yachting team that won the gold medal at the 1952 Olympics. In 2002, the 5.4-acre estate sold to current homeowners, Rich and Christina Makowsky, who felt the home was a pit of a money pit.

“We didn’t realize how bad it was,” said Makowsky, a shoe manufacturer and distributor. “The house was falling apart when you went from room to room. We definitely could have done the sequel.” [NYT]Christopher Cameron


Related Articles

arrow_forward_ios
Josh Baumgarten (left) and Adam Schwartz, co-CEOs and co-Chief Investment Officers of Angelo Gordon with 2 Huntington Quadrangle, Melville, 6 and 8 Corporate Center Drive in Melville (Angelo Gordon, We're Group)
Angelo Gordon, We’re Group score $350M refi for Long Island offices
Angelo Gordon, We’re Group score $350M refi for Long Island offices
40 Meadow Lane, Southampton
New Hamptons sales and listings promise ocean views… and eternal life
New Hamptons sales and listings promise ocean views… and eternal life
Hartz Mountain Industries CEO Leonard Stern and 235 Pinelawn Road (Google Maps, Hartz Mountain)
Warehouse developer accused of violating “Long Island First” policy
Warehouse developer accused of violating “Long Island First” policy
 81-82 South Midway Road (Saunders & Associates Real Estate)
Shelter Island home, circa 1750, lists for $15M
Shelter Island home, circa 1750, lists for $15M
A rendering of 12 Eileen’s Path, East Hampton (Corcoran)
Think buying in the Hamptons is tough? Try building
Think buying in the Hamptons is tough? Try building
North Fork home inventory can’t meet demand
North Fork home inventory can’t meet demand
North Fork home inventory can’t meet demand
Shinnecock Indian Nation Chairman Bryan Polite (left) and a rendering of the Southampton casino (Photos courtesy of Facebook and Shinnecock Indian Nation)
Shinnecock Nation rolls dice on Southampton casino
Shinnecock Nation rolls dice on Southampton casino
Retailers rush to open in the Hamptons
Retailers rush to open in the Hamptons
Retailers rush to open in the Hamptons
arrow_forward_ios

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

Loading...