Jeremy Scott's Throwback To The Trapper Keeper
Zandile Blay: After the Hype: The Return of Laquan Smith to NYFW
Buy For $10 Million, Sell For $33 Million?
How's this for an investment? Newsday reports that investor Chris Knight bought Shorewood Manor a 7.5 acre waterfront property in Shelter Island, New York for $10 million in March and has now re-listed the property at $33 million. Apparently the reason for this ultimate act of real estate optimism is an appraisal that Knight received for securing the loan on the estate that gave the value as being estimated at between $1.25 million to $4 million per acre.
The estate seems to be a tear down waiting to happen, the Victorian manor on the property, though charming, is not exactly modern. In fact, the previous owner, a former governor of New York had been given permission to raze the home. The grounds are the perfect for a mogul's dream home however offering absolutely beautiful views. According to Albert Hammond, chairman of the Shelter Island assessor's office Knight's $10-million purchase is to date the highest anyone has paid for Shelter Island property making $33 million seem like true pie-in-the-sky dreaming. The listing is here with a few more exterior pics and one interior shot.
Worst Movie Mistakes: Date Night Edition (PHOTOS)
Adele Five-Year Break? Singer Plans to Focus on Relationship, Write 'Happy Record'
PHOTOS: President Obama's Kissing Technique
Social Security Is Failing Even Faster Than We Thought
Whitney Houston Autopsy: Cause of Death Determined?
LOOK: Amazing Underwater Photos Of Dogs
Jennifer Hudson Whitney Tribute: Grammy President Reveals Why Singer Was Chosen for Musical Memorial
Chris Brown, Grammys 2012: Embattled Singer Slams Critics
PHOTOS: How You Can Get The 'Miracle' Dress
3 Economic Misconceptions That Need to Die
5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation
Matt Bomer Comes Out As Gay
Trace Adkins Reunites With College Crush, 30 Years Later
People With Easy-To-Pronounce Names More Likely To Succeed, Study Says
PHOTOS: Model Falls At Dennis Basso Show
Grammy 2012 Winners' List: Adele Sweeps Music's Biggest Night
Lauren Scruggs Goes On Ski Vacation
WATCH AND LAUGH: Cops In 2-Hour Standoff With Empty Car
New Clues, Details Emerge In Powell Case
Stephen Wiltshire Draws Cities From Memory
PHOTOS: Remembering The People's Ballerina
We Meant There WERE Nukes In The Fire
Oprah Under Fire For Controversial Tweet
LOOK: The Last Of The Cave People
15 Funny Valentine's Day Cards
The Top 10 Slacker Colleges
How Hattie Lost 300 Pounds: 'I Was Ready To Do Whatever It Took To Survive'
Best In Show Winner Declared
PHOTOS: Kate Spends Valentine's Day Solo!
PHOTOS: Michelle Obama Wears Jason Wu For Target!
PHOTOS: Beautiful Scars
15 Funny Valentine's Day Quotes
Reader Comments (Page 1 of 1)
TBDN Jun 30th 2007 12:24PM
Ah, glory be! Now my one room condo in the Chicago suburbs is worth $ 800,000! Life is good and God Bless Knight for bringing us hope!
Spectacular Bid Jul 1st 2007 7:53PM
It was Martin Carey - not the ex Governor, Hugh - who owned the property and sought/obtained the right to raze the manor house.
Martin has owned other historic properties, most notably the magnificent Winfield Hall (still for sale) in Glen Cove, which was the former Woolwoorth estate.
It would be a shame to have Shorewood razed. It fits the site so well and architecturally looks wonderful. No real value add long term in tearing it down and putting some oversized, bland "statement" house.