What once ranked as the priciest piece of residential real estate in the U.S. has been sold, and the gargantuan transaction has set a new record for the state of Connecticut.
Copper Beech Farm, a centuries-old waterfront estate in Greenwich, was just snapped up for a whopping $138.8 million by an unidentified buyer, The Wall Street Journal reported on Wednesday. Previously listed at $150 million, the deal sets a record for the highest-priced home ever sold in the history of the state and the ninth-most expensive residential sale in the country.
The last time the palatial property closed in 2014, it garnered an eye-watering sum of $120 million from a company known as the Conservation Institute. At the time, it was the most anyone had ever paid for a home in the United States, but Copper Beech was dethroned in 2019 by the $238 million purchase of a lavish New York City penthouse by billionaire Ken Griffin.
“The opportunity to purchase a residence of this high caliber is a true rarity,” says Joseph Barbieri of Sotheby’s International Realty in a press statement, who held the listing with colleagues Leslie McElwreath and Nikki Field. “It was our honor to be charged with representing such an unparalleled, historic estate in one of the most coveted markets.”
McElwreath added that the buyer, who was represented by Douglas Elliman’s Stephanie Bo Li, was drawn to Copper Beech after reading about it in the WSJ and visited the estate within a month after it was listed. “I think it’s safe to say it was love at first sight,” McElwreath told the newspaper. “I think they recognized that the property would likely go to a buyer where it would be tied up for generations and that, if they waited, someone else would scoop it up.”
Originally dubbed Kincraig, the sprawling 50-acre compound presides over a private peninsula along the Long Island Sound and dates back to 1898. Since then, the approximately 13,500-square-foot residence has undergone extensive renovations, but luckily, the interiors still hark back to the Victorian era with original oak paneling, soaring 12-foot ceilings, nine stately fireplaces, and plaster friezes.
Still curious about what nearly $140 million in the Constitution State gets you? In addition to an eight-bedroom French-Renaissance-style manse, the spread is equipped with two private beaches, a bathhouse, a grass-covered tennis court, a 75-foot-long swimming pool, two greenhouses, and roughly a mile of private water frontage. It also includes a three-bed gatehouse and a stone-clad carriage house with a clock tower and two extra bedrooms.
Click here to see all the photos of Copper Beech Farm.