The co-founder of Calvin Klein listed an expansive equestrian estate in Westchester County for $100 million.
Barry K. Schwartz bought the main parcel of land in 1979 for $3.25 million, and went on to send several horses from the farm to compete in the Kentucky Derby. Now, Schwartz is selling the property because he and his wife don’t spend enough time there, the Wall Street Journal reported.
Known as Stonewall Farm, the property features a 40-stall barn, a 2,200-bottle wine cellar and a Colonial plantation-style manor with a slate roof. It is one of the largest privately owned estates in the county, at 740 acres. The 24,000-square-foot, eight-bedroom home was completed in 2003.
A childhood friend of Calvin Klein, Schwartz co-founded the clothing brand with him in 1968, before growing it into a massive label and selling it for $703 million in 2003.
Kathleen Coumou and Andrew Emery of Christie’s International Real Estate have the listing. The brokers say they hope investors, looking for a safe harbor amid a now-volatile stock market, will be interested in purchasing land. [WSJ] — Georgia Kromrei