Llenroc Estate, Estate of the Day
If a home was rumored to cost $32.5 million to build what should it sell for? The Llenroc Estate, which went on sale in Saratoga County in upstate New York this week is said to have cost that much when it was created by Albert Lawrence in 1992. The castle-like home sits on 12 acres on the Mohawk River. Lawrence, a devoted Cornell alum, modeled his home after the campus center. What is Llenroc? It's Cornell spelled backwards. The five-bedroom home is made from Llenroc stone (the same stone used to create the Llenroc dorm at Cornell). As befits a modern castle there are all sorts of unique details such as Scandanavian marble flooring, hand-painted Portuguese tiles, a dining room with a gilded coffered ceiling and a five-floor glass elevator. Particularly eccentric touches include the sailboat-shaped indoor pool with separate hot tub, a four-story solarium, a mermaid bar with see-through views of the pool and dancing fountains. This home is listed at $12.9 million.
Reader Comments (Page 1 of 2)
Spectacular Bid Oct 4th 2007 2:11PM
First, there is no Llenroc dorm at Cornell. It is based upon Willard Straight Hall and some styling influences from Ezra Cornell's residence, located off campus and now a frat house, known as Llenroc. Clearly "Chad Perkins" is not a Big Red grad!
Regarding the boasting of the "rumored" cost of construction that's utter b.s.!
The house, built in 1992, was appraised in 1998 at $2.3 million and was being marketed (in 1997) for $2.45 million with no such wild claims of costing $30M. The listing agents at the time were Blackman & DeStefano brought in by Morgan Guaranty Trust who held the mortgage.
A bit more unglamorous is that it operated in the late 1990's as a B&B for the owners trying to pay the mortgage. They also tried to use it as a catering hall but Clifton Park said no way.
Albert Lawrence was convicted in 2000 of embezzlement, fraud and tax evasion related to his insurance co. Sentenced to 20 years he did less then 1 year and died in 2002.
The Re/Max agent can hype it all he wants but nothing has sold even remotely in that price territory save for the former Whitney “Greentree” stables and estate next door to the Saratoga Race Course this year.
A far more tasteful stone mansion in Upstate NY at just under $3 million and at one time this summer pitched on eBay for just $2M:
www.sangermansion.com
Kevin Oct 5th 2007 7:02PM
I love the portals to the swimming pool in the bar.
Joe Oct 4th 2007 8:10PM
I don't believe the $30m figure. The exterior of the house, although ugly, may be of good quality, the interior looks cheap and McMansiony.
The realtor says it would cost $60m to replace. Yeah right buddy. 20,000 square foot house for $60m? That's $3k a square foot. Yeah I'm not believing that. Judging from the quality of the interior based on those pictures, I'd say that house is no more than $400 per square foot. The dramatic ceilings is the only thing that adds real cost. The quality looks cheap.
Sarah Afshar Oct 5th 2007 1:02PM
I would have estimated the cost of this beautiful house to be around $6-$8 million range.
Solomon Oct 5th 2007 3:06PM
What would it be like if the people trying to sell their properties with Spam on the blog would STOP bad mouthing the competition? Are you aware that you all look like blooming JEALOUS IDIOTS. You guys should know that not one good person would ever want to do business with you with your attitudes because it is obvious that you don't know what you're talking about.
Everyone knows that the "Builders" Albert Lawrence who owned an insurance empire ran into financial trouble with the Hurricane Andrew claims and the KPMG accounting firm that lied about the reserves. He purposely depressed the assessment value of this estate because his creditors were after it with his near decade long bankruptcy. As you know they never let anyone in the estate to buy the property so that his family could live there until he died.
I have seen the Llenroc Castle on the Mohawk River that is part of the Erie Canal. I take my yacht and travel from the Alantic Ocean to the Great Lakes. I stop in the Schenectady Yacht Club and tour the area.
It is the only nice water front palace close to the CAPITOL of New York - Albany - The next "Tech-Valley" near the Saratoga Race Track. There is a gated at least 800 ft. long and 16 ft. wide custom paver stone driveway with 8 eight gorgeous fountains on the property.
Have you seen the beautiful apple orchards there?
Who else has a 5-Floor Glass Elevator and another elevator for the servants?
Did you see all that Solid Mahogany, Marble, inlaid Walnut hardwood floors, Custom ceilings?
I pay close attention to many beautiful properties and would not be surprised at a $40M price tag to build with the land on the water. Okay, maybe this palace is a bit out of my league to buy today. When I make enough to BUY IT I hope the next owner will sell it to me for this bargain price.
I LOVE IT.
Mycul Oct 6th 2007 9:11PM
I ve been a carpenter for a few decades . On a good day .....6 to 8 million. 32 million to build ? B.S.
McKinney Oct 6th 2007 10:02PM
I've been a developer of high end homes for decades and my 15,000 square ft. homes cost nearly $30 million. Click on the "Estates" link at the top of this page and view Billy Joel's property and others. You'll notice this home is built of the highest quality material and from what I can see, I would not be able to duplicate it for less then $50 million. Some of Donald Trump's properties appear to be built with a similar quality to this one.
Damatas Oct 6th 2007 11:40PM
If I could afford it. I'd move in tomorrow. It's absolutly goregous.
What isn't there to love and respect?!
MCrawford Oct 7th 2007 12:01AM
As an interior designer that is involved with the property owners and architects from conception to completion of projects, I must dispute the 32.5 million construction cost. Although some (and I stress some) quality materials were used for impact purposes, the overall impression is cheap and of poor quality. The interior environment is lacking a harmonious composition. Generally a house on the market shows better furnished, this is the exception. The cheap and poor quality furnishings exemplify that money does not buy taste.
jeff Oct 7th 2007 12:19AM
its so big and bland....it doesnt have fine details or finishes...looks very "Upstate New York", "high end" hotel
Damatas Oct 7th 2007 12:56AM
High end Hotel is a very nice thing. Trust me!!
Money Oct 7th 2007 1:22AM
There is no mention of the Batcave...
David Oct 7th 2007 1:25AM
A stately classy look. You can tell it is a modern castle and not from the middle ages. I would change a few things as I do in all my real estate purchases. It seems to be in a great location. At the 12.9 million sale price you can afford to make changes and still come out ahead. You can't beat that awe factor. I can see my parties on those sweeping terraces and that ledge in the pool for people to socialize on.
William Erwin Oct 7th 2007 1:26AM
It is amazing how many "experts" are weighing in here. The "Spectacular Bid" is the funniest. If that house sits on 12 acres on the Mohawk River and it is 20,000 sq. ft. - there is NO Way it ever appraised at $2.45 Mil and change. Just the location is going to seriously inflate the value.
I would guess, conservatively that the construction cost of the house (approx. $275-300 sq ft) would be
$6 Mil. The property value could be from $2-5 Mil
Those carpenters (Mycul) are pretty close. People should listen to them, not "Developers of HighEnd Homes"!I can't wait until I can charge $2000 sq ft!!
I just finished a 32,000 sq ft in Florida. Real Builders charge $200 - $300 sq ft - with the actual
construction cost being $100-150 sq ft. So, on a house like that - at $6 Mil - we would make almost $3Mil So, I can't wait to meet the dummies that pay $2000 sq ft. That is SO ridiculous.
Linda Oct 7th 2007 1:47AM
This home is fantastic. The staircase is the main attraction where I am concerned.
One comment to you home builders. Don't you feel just a little bit guilty for charging so much? Have you ever just built a home and given it away to someone that could never afford your prices in a million years? What a good way to get publicity.
David Oct 7th 2007 2:16AM
WOW 15 wood burning fireplaces, 5 floor glass elevator, another elevator for the staff, 5 bedrooms, 10 bathrooms, media room, a finished basement is how much more sq.ft.?, 12+ car heated underground garage, boat dock, sauna. Did any of you "experts" see what else is out there click on this link http://www.luxist.com/category/estates/
Because I want this one. Where do I sign?
debbie Oct 7th 2007 3:46AM
believe me if i could afford it it would be mine
David T. Hughes Oct 7th 2007 4:50AM
Although it is a beautful structure, I would not want
it. The money could be used for better need.
David Oct 7th 2007 5:55AM
The house is beautiful. I also like the portals to the swimming pool behind the bar. Other than it being too "Victorian" for my taste and that it is in New York, I'd buy it if I had that kind of money.
MIke Reynolds Oct 7th 2007 6:23AM
I think we should use caution when judging the value of a estate by just looking at the pictures. A professional opinion should be obtained, We should remember that the value is what someone is willing to pay for the property. I sell Real Estate and I have built nice homes in the past. I have seen homes in St. George, Utah where I live ( 112 Miles North of Las Vegas on I-15 ) go from 100.00 to over 1000.00 per sq foot. in just a short period of time. How would you value convenience, mature landscaping, location, quality of life, and if the decor is appealing to you. The property has Grandeur and fantastic ambience's. Wheather it is a 5,000,000.00 or 10,000,000.00 dollar home.