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

New York /
Mar.March 21, 2019 01:33 PM

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]


Related Articles

arrow_forward_ios
eXp CEO Glenn Sanford and Corofy CEO Eddy Boccara (eXp, Corofy, iStock)
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Trump Plaza New Rochelle at 175 Huguenot Street and Donald Trump (Getty, Anthony22/Wikimedia)
Trump Plaza New Rochelle dumps Trump Org as property manager
Trump Plaza New Rochelle dumps Trump Org as property manager
Parc Grove apartments, PGIM CEO David Hunt and Pacific Urban Residential CEO Al Pace (Photos via Parc Grove, PGIM, RETCON)
PGIM gets $154M for Stamford apartments as rental market heats up
PGIM gets $154M for Stamford apartments as rental market heats up
Additional reason for the slowdown in contract signings is shrinking inventory, which is likely to make the market even more competitive. (iStock)
As inventory shrinks, suburban NYC home market calms down a bit
As inventory shrinks, suburban NYC home market calms down a bit
Professor Randolph M. McLaughlin ro Newman Ferrara LLP and Aaron Carr of HRI (Getty, Facebook, iStock)
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Finger and Finger principal Kenneth Finger and landlord activist Jeff Hanley with Westchester (Credit: iStock)
Westchester group lobs its own constitutional challenge to New York’s rent law
Westchester group lobs its own constitutional challenge to New York’s rent law
Lana Zakocela and Justin Etzin in front of their former New Castle home (Credit: Getty, Zillow)
The Seychelles to auction off estate at a discount after diplomat’s divorce
The Seychelles to auction off estate at a discount after diplomat’s divorce
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
arrow_forward_ios

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

Loading...