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Most Expensive Home Sells for $120M, a Record in United States

Thursday, 17 Apr 2014 09:37 AM

By Clyde Hughes

America's most expensive single-family home, the Copper Beech Farm in Greenwich, Conn., has sold for $120 million, some $70 million less than the original asking price.

The Connecticut Post reported last week that the paperwork for the purchase was filed in the Greenwich Town Clerk's office April 11. The mansion was reportedly once home to the Lauder Greenway family — Harriet Lauder Greenway's father helped Andrew Carnegie start what would become U.S. Steel.

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The Wall Street Journal reported that the seller is timber tycoon John Rudey. David Ogilvy, of David Ogilvy & Associates, told the newspaper that Rudey knew the Lauder Greenway family and quietly purchased the property 31 years ago.

Ogilvy told the Journal that Rudey sold the property because his children are now grown up. The buyer's identity was not made public.

The property features a carriage house, co-joined pools, a wine cellar, and a grass tennis court, according to GreenwichTime.com.

"A 50-acre compound on the Greenwich waterfront with a pair of private islands, a driveway longer than most highway interchanges and a 19th century French Victorian mansion with as many bedrooms as there are days of Christmas hit the market Friday at an other-worldly $190 million," the website noted back in May.

"Not only is the listing a record for Greenwich, where an 80-acre horse farm fetched $45 million in 2004, it is believed to be the most expensive listing in the entire United States," the posting continued.

The Connecticut Post reported that many real estate experts believed the property would not sell above $100 million because of the history of comparable properties.

In 2012, a 90-acre ranch in Aspen, Colo., originally listed for $135 million sold to hedge-fund executive John Paulson for $41 million, according to the Journal.

In 2009, British socialite Petra Ecclestone bought Candy Spelling's 123-room mansion in Los Angeles for $85 million. The property was originally priced at $150 million.

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