Ole & Steen Founder Lists Denmark’s Priciest Home

The viral pastry known as the “Cinnamon Social” has evidently made a property baron out of one of the executives of a Danish bakery chain.

Ole & Steen co-founder Ole Kristoffersen listed his waterfront villa due north of Copenhagen for 200 million Danish kroner, or $31.5 million, the Wall Street Journal reported. That makes it the most expensive listing in all of Denmark.

Kristoffersen purchased the property in 2009 for 58 million kroner, or about $9.1 million. He sold his interest in the family business several years ago.

The home was designed by a renowned Danish architect, the late Arne Jacobsen. He’s best known for his furniture designs. Thus, the few residential projects to his name are even rarer and in higher demand.

Listing agent Ivan Eltoft Nielsen said Jacobsen’s attachment places a premium of up to 20 percent on the asking price. The home doesn’t feature any furniture designed by Jacobsen.

The listing price breaks down to approximately $4,850 per square foot.

The 1956-built Modernist villa unfolds over two acres in the Scandinavian nation. It was built for coffee importer Ruthwen Jürgensen and his wife. It spans 6,500 square feet after expansions and includes a finished basement.

Most rooms come with a view of the sea, which can go from tranquil to rough depending on the season, according to Kristoffersen. The kitchen has three ovens, perfect for a baker (even though Kristoffersen has largely sworn off the occupation).

The property is on the Öresund, a strait separating Denmark and Sweden. The grounds include a tennis court, heated outdoor pool and a three-bedroom guesthouse, none of which have the Jacobsen imprint on them.

It’s unclear why Kristoffersen is selling.

Ole & Steen was co-founded in 2008, a couple of decades after Kristoffersen and Steen Skallebaek formed their own bakeries, which subsequently merged. The company boasts nearly 150 locations, largely in Denmark, England and New York City.

— Holden Walter-Warner