The Wall Street JournalBy CANDACE TAYLORAug. 26, 2015
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Westchester’s Priciest Home Ups Its Price to Nearly $36 Million
Developers of the 98-acre property in Mount Kisco, N.Y. originally listed the home for $29.5 million in April
Developers renovating a century-old Westchester house believe there is nowhere to go but up. Having listed the property in April for $29.5 million, making it the priciest home in the county, they’ve relisted the home with another real-estate agency—this time for $35,888,555.
Located in Mount Kisco, N.Y., the 98-acre property contains a home built in the early 1900s, which developers Soder Real Estate Equities and Twin Oaks Construction are restoring and expanding to around 23,000 feet. A buyer could customize the layout, or select design options that would bring the home to more than 40,000 square feet, saidDavid Fenton, CEO of Twin Oaks.
Mr. Fenton said the asking price increased 22% because the development team made some changes to the design and the materials they plan to use, like increasing the size of the pool and using more limestone on the house’s exterior. “When we looked at what we’re going to be putting in from a dollars and cents standpoint, it got to the point where we said, ‘We’ve got to raise this,’” he said. According to public records, Soder Real Estate bought the property in March for $7 million.
Mr. Fenton said he and partner Steve Oder decided to switch to their current agency, Manhattan-based Nest Seekers International, to help market the property across the country and internationally. Melvin Caro of Nest Seekers, who is listing the property with colleagues Paul Andrew Nolletti, David Sokolowski, Ryan Serhant and Anthony Chan, said the team is planning a trip to China to market the property this fall, and noted that the new asking price should help attract Chinese purchasers, for whom the number 8 is considered lucky.
The property was initially co-listed with Westchester firms Julia B. Fee Sotheby’s International Realty and Ginnel Real Estate.
