A home on the waterfront in the village of Larchmont has set a record: The sale of 25 Park Avenue for $11.3 million was the highest price ever paid for a residential property in the village, according to OneKey MLS.
The next highest sale?
It was the same property, purchased by the sellers for $10.4 million in 2006.
The home sold for its full asking price. Mimi Magarelli of Julia B. Fee Sotheby’s International Realty's Larchmont brokerage had the listing, and Lisa Collins from the same brokerage brought the buyer.
The waterfront property is adjacent to Larchmont’s Manor Park, with 1.6 landscaped acres on a promontory above the Long Island Sound and harbor. It includes 500 feet of private shoreline, a deep water dock, jetty and swimming area.
“With spectacular views and spaces that meld glamour and period grandeur, this property is truly unrivaled,” said Magarelli.
The home can lay claim to being the village's most expensive, and one of its most historic, as well.
According to a history compiled by the Larchmont Historical Society, the original property was the brainchild of John Stevens, former Continental Army captain, inventor, lawyer and politician who was stumped over a solution to prevent turtles from poaching the chickens on his Hoboken, New Jersey, riverfront estate.
His solution? Turtle soup. Stevens regularly invited a large group of wealthy Manhattan businessmen to his estate to dine on turtle soup. The Hoboken Turtle Club was born.
In 1890, the Hoboken Turtle Club membership purchased a 4-acre piece of land known as Shepard’s Point, adjacent to Manor Park with a plan to develop the property into permanent club facilities.
But within a year, the Turtle Club was in default on its mortgage bonds, and the property was sold at auction for $51,000 to Walter B. Manny.
Manny's family used the property and its waterfront home mainly as a summer residence, and it remained in the extended Manny family for the next 100 years, until the death of 100-year-old owner Armine Mead in 1992.
Subsequent owners updated the aging home but kept the best of its original details including a 100-year-old beamed billiard room and a wraparound porch.
Although the median home price in Westchester topped $870,000 according to the latest data on closed sales from Realtor.com, there are nearly 3 dozen properties currently on the market listed for more than $10 million, including a $28 million home in Pound Ridge, a $19.5 million new build in Tarrytown and a waterfront home in Rye, listed for $14.8 million.
Karen Croke is the features editor for lohud.com and poughkeepsiejournal.com. Find my stories here. Reach me at firstname.lastname@example.org
This article originally appeared on Rockland/Westchester Journal News: Larchmont real estate: Home sale at 25 Park Ave. breaks village record