Copper Beech Farm Sells for $120 Million

We are proud that Christie’s Exclusive Affiliate, David Ogilvey & Associates, has brokered the largest transaction in U.S history for a single-family home, showing once again that Christie’s International Real Estate and its affiliates have the widest reaching marketing program in the world. As an Exclusive Affiliate ourselves, Neumann Real Estate takes advantage of this incredible resource as well, reaching out to our other affiliates and marketing our properties to an incredible scope of people.

Copper Beech Farm, the magnificent estate situated on more than 50 waterfront acres in Greenwich, Connecticut, has sold for $120 million to an undisclosed buyer. Offered by David Ogilvy & Associates with international marketing services provided by Christie’s International Real Estate, the sale represents the largest transaction in U.S. history for a single-family residential property.

This property with spectacular views across Long Island Sound is the last waterfront parcel of its size in Greenwich or anywhere along the coast from Greenwich to New York City and boasts a rich and distinguished history. Built in 1896, it was purchased by the Lauder Greenway family, co-founders of U.S. Steel with Andrew Carnegie who lived there for 75 years. Their heirs sold it in the 1980’s and it has been used as a weekend retreat since then.

“High-end sales at this end of the spectrum are compelling indicators of the continued growth of the luxury residential real estate market,” said Kathleen Coumou, Senior Vice President of Christie’s International Real Estate. “I congratulate David Ogilvy on this splendid achievement.”

“We’re delighted to have listed and sold this incredible property,” said David Ogilvy. “Copper Beech Farm is the ultimate waterfront property in Greenwich on the fabled Connecticut coast and there simply are no more in existence like it. The property’s new owners will truly enjoy the total privacy, exclusivity, and unparalleled waterfront location just 45 minutes from New York City.”

From its vantage point 40 feet above mean high water, the main residence offers panoramic vistas across Long Island Sound including Island Beach, a public offshore island park given to the town by the Lauder Greenway family. The estate also includes two offshore islands and together, the property has almost a mile of shorefront. Copper Beech Farm is easily reachable from New York City by car or train in Greenwich, has easy access to all major New York airports and is a short drive from Greenwich’s many world-class shops, restaurants, schools, and recreational offerings.

Although not quite in the same price range, Ridgefield has some incredible luxury properties on the market as well. Some of my own offerings are Strawberry Ridge, Deer Run, Homewood Estate and 44 King Lane. If you’re in the market for a luxury home in the area, start your search here or contact me.

Ridgefield Market Report for March 2014

March 2014 unit sales of Single Family Homes in Ridgefield were lower as compared to the same time last year, dropping to 19 from last year’s 24. The same holds true for the Q1 2014 results where only 45 homes sold as compared to 62 in Q1 of 2013. This represents an approximately 29% drop in sales, which could be attributed to the unseasonably bad weather we experienced in January, February and March of this year.

The Median Sales Price of a single family home, however, showed a favorable increase in dollar value in Q1 2014 rising from $527,750 to $680,000. The March 2014 figures also follow this trend increasing to $619,000 from $562,500 a year ago. The Average Days on Market decreased by 15.4% from Q1 2013 to Q1 2014, and 30.8% when comparing the month of March alone. These two indicators would seem to point to a strong demand for homes in good condition that are priced appropriately.

The number of homes the went under contract in the month of March was 52, as compared to 32 last year, while the Months Supply of Inventory decreased to only 5.9 months compared to 11 months last year. The number of New Properties for Sale in March 2014 outpaced 2013 86 to 70, but overall we are still lagging behind when looking at the number of new properties listed overall in Q1 2014.

For a full graphical analysis of Ridgefield’s March and Q1 2014 real estate market, download the report here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

Karla Murtaugh Chosen To List $5.25 Million Zen-Like Estate

Recently featured in Ridgefield Magazine, Strawberry Ridge, located in the desirable town of Ridgefield, Connecticut, is a large, private estate owned by investment banker and NYU professor, Gerald Rosenfeld and producer, Judith Zarin. Offered at a price of US $5.25 million, the property is being presented by Christie’s International Real Estate, the world’s leading luxury real estate network, and exclusive affiliate Neumann Real Estate. Featuring a mid-century modern design by architects Donald Billinkoff and Yvan Prokesch, the structure accentuates a series of wings that encompass the best of living in every season.

“When we designed this home we had two goals, “ says Zarin. “First, to turn the traditional Colonial residence into a contemporary home that still looked appropriate in its location, and second, to have a home which provided fun and comfort in all four seasons of the year.” The owners also renovated and recently sold a modern, 6500 square foot townhouse in the West Village and are currently renovating a new apartment on the Upper West Side in preparation for the move back to Manhattan.

“It is rare to find a property that so perfectly marries modern minimalism with such warmth and comfort,” says Karla Murtaugh, who is brokering the property for Neumann Real Estate. “Strawberry Ridge is a perfect country residence for someone who appreciates clean, uncluttered lines in a bucolic setting, yet still wants to remain close to the action and accessibility of New York City.”

Located in the foothills of the Berkshire Mountains in beautiful Fairfield County, the wonderfully renovated and expanded 11,272 square foot residence sits behind natural privacy walls in one of Ridgefield’s premier enclaves. A striking front entrance opens to reveal a central reception area offering access to both wings of the home. The contemporary, vaulted design of the “summer” wing includes a sleek European kitchen, which seamlessly gives way to a breakfast area, and a large family room with multiple large-pane glass doors. An expansive great room and elevated gym lead to a stunning indoor pool with a spa and waterfall. Off the great room, the sumptuous screened porch with a built-in grill acts as a living room during the warmer seasons, and the recent addition of a stone fire pit and treehouse add to the unpretentious, zen feel of the property.

The “winter” wing can be defined as romantic classicism married with modern minimalism. The glass sunroom provides views of the beautifully terraced, outdoor living room designed by landscape architect Diane Devore of Fairfield, Connecticut. The formal living room features wall-to-wall views, while the large dining room – at once formal and elegant – is made equally soft and inviting with a plethora of maple paneling and a warm, stone fireplace. A relaxed library will satisfy the most discerning of book aficionados, while the original glass finial at the bottom of the circular stair to the private living quarters reflects the home’s three-century heritage.

The private, upper level spaces of the home continue to impress. The master suite is positively breathtaking with its exposed beams, comfortable fireplace, and incredible views of the guest house and woods beyond. The manicured 7.59 acre property has been meticulously sculpted to reflect the roots of contemporary design in Puritan tradition. The grassy stepped living room, and cedar and gravel walking path meandering around the perimeter of the property blend seamlessly with the outdoor pool, sport court and tennis court.

See more information about this spectacular home here. Contact me directly at 203-856-5534 for a private showing.