Greenwich Estate Sells For Record $120 Million

Posted by Patrick Barnard on April 16, 2014 No Comments
Categories : Required Reading

15323_greenwich_mansion Greenwich Estate Sells For Record $120 Million One of the most expensive single-family residential properties in the U.S. sold last week for a whopping $120 million.

Copper Beech Farm, a 51-acre property and mansion located on the waterfront in Greenwich, Conn., hit the market last spring with an asking price of $190 million. At the time, many people said the property would never fetch a nine-figure sum, but, according to a report in the Greenwich Time, the lavish estate – once home to the Lauder-Greenway family – was purchased by the Conservation Institute LLC on April 11 for $120 million.

Realtor David Ogilvy, who listed the property, told the Greenwich Time that the estate is, in fact, the most expensive ever sold in America. "The next-most-expensive sold for $117 million in California,’ he told the newspaper. That transaction was for a nine-acre estate featuring an 8,900-square-foot mansion in Silicon Valley that sold in January 2013.

The report notes that while a 124,000-acre ranch in Montana closed for $132.5 million in November 2012, it was more than just a ‘residential’ property, as it included a sprawling agricultural operation.

The article doesn't mention how the purchase was financed.

For more, check out the report in the Greenwich Time.

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