Historic Scarsdale farmhouse once in contract with embattled developer Michael D’Alessio gets new buyer

March 21, 2019 01:33PM

Rye-based Nantucket Home Builders plans to purchase a historic farmhouse in Scarsdale, LoHud reported. The Scarsdale Historical Society put the 0.7-acre lot at 937 Post Road, which is home to the Cudner-Hyatt House Museum, on the market after a previous sale fell through when one of the principal investors, developer Michael D’Alessio, pleaded guilty to fraud charges in November. The price tag wasn’t immediately disclosed, but the historical society was asking for $975,000. Lynne Clark of Houlihan Lawrence had the listing for the five-bedroom farmhouse. Nantucket Home Builders president George Braverman told the outlet the company plans to “basically restore the entire house itself,” adding that they “don’t want to change the integrity.” The home builder plans to develop the rest of the property and is seeking to subdivide it into three lots. The sale of the pre-Revolutionary War farmhouse, which returned to the market in January, will only go through if the village approves the subdivision plan. As for D’Alessio, who was behind a limited liability company that had pledged to pay for the property with $1.06 million in cash in April 2017, he has recently sold off several properties of his own via bankruptcy auctions. [LoHud]