The search for a buyer of Erchless, a vast Gold Coast estate in Old Westbury, is officially over.
An anonymous real estate developer and health care mogul living in the village purchased the property at 75 Post Road for $21 million, Newsday reported. The transaction is the most expensive of the year in Nassau County, and fairly close to the property’s $23 million asking price.
The developer’s plans for the property are unclear, as it was marketed to include the possibility of as-of-right subdivision, but a representative of the buyer said they would be keeping it for personal use. For example, it could serve as the venue for the wedding of the buyer’s daughter.
When solely considering the 16,000-square-foot mansion on the property and not the 92-acre estate, the sale breaks down to $1,312 per square foot. The mansion has seven primary bedrooms — all with en suite bathrooms — and eight smaller bedrooms for staff. There are 12 bathrooms, nine fireplaces and a curved staircase.
The seller was Howard Phipps Jr., a descendant of Carnegie Steel partner Henry Phipps Jr. The main home had been in his family since it was constructed close to a century ago.
Beyond the U-shaped, Georgian Colonial-style mansion, features of the estate include four greenhouses, a four-stall carriage barn with loft bedrooms, a four-stall cow barn with a 17th-century cellar, a super’s house and a chauffeur’s house.
The grounds also include an award-winning rhododendron garden — the owner’s father was a famed horticulturist — and a heated pool.
Daniel Gale Sotheby’s International Realty’s Lois Kirschenbaum had the listing, while Maria Babaev represented the buyer.
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Phipps Jr. listed the home in 2018 for $29.9 million, 42 percent more than the final transaction price. The latest sale did, however, dwarf the previous largest sale of the year in Nassau County, Sean Hannity’s $12.7 million sale in Oyster Bay.