http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/ Luxist Comments for Searles Castle, Estate of the Day http://www.luxist.com/media/feedlogo.gif http://www.luxist.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/
The highest sale ever in Berkshire Co. Mass was recorded 1/07 for Southmayd Farm at $6.9 million. It was fully restored, very lovely, a semi-Gilded Age estate (although not a Berkshire Cottage of note) and acquired by low-key owners who sought a place with ample lands affording privacy. The estate is tucked deep inside the lands and very few people knew of it prior to it being marketed for sale. It took over 3 years to sell it and several price reductions.

The Sloane/Vanderbilt estate of Elm Court (only partially restored) was pitched originally at $22M while operating as an Inn and drifted in price down into the upper teens. It failed to sell despite an initial agreement with a FL hotel company. It still is a premium B&B/wedding site.

Another stone castle which operates as an Inn and Spa (Mepal Manor in New Marlboro, MA) is for sale but with very limited adertising and marketing. The asking price has been around the $6M mark with no takers.

For years now the former DeSisto School (Bonnie Brier Farm) has been for sale for a few years and under contract for over 16 months. 250+ acres, massive gilded age mansion, right near Tanglewood, perfect location and pitched for $4.5 million. It likely will be sold as a future resort but I suspect at or under $4M.

My point is that while $15M might be 'cheap' in other areas and despite there being deep pocketed residents and vistors plus the beauty of the Berkshires for some reason it just isn't translating into mega trophy purchases.]]>Feb 6th 2008 2:20PMhttp://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/Update...according to the realtors site for the Bonnie Brier Farm, it is under contract now...
Good to see your analysis again...always right on target.]]>Feb 6th 2008 4:45PMhttp://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/Odd, their website still lists them as being located at that site, with the castle prominently featured. And they sent out a press release as recently as last month trumpeting the acceptance rate of their 2007-2008 class into colleges. So are they still operating there until a new owner can be found?

Also, since it's an academy for troubled teens, will there be unmatriculated ghosts wandering the grounds?]]>Feb 7th 2008 7:11AMhttp://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/http://www.luxist.com/2008/02/06/searles-castle-estate-of-the-day/
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Such has been the case with the aforementioned ex-DeSisto School property (Bonnie Brier) which also had been a school for troubled youths. The would-be buyers looking to make it a polo resort uncovered oil tanks that had been leaking also financing of the project ran into issues.

Not to suggest such was the case here with Searles, but there are plenty of people out there who haven't a cent yetlike to pretend they can buy a lot of multimillion dollar homes.

While foreign buyers may be snapping up US trophy properties I doubt this will be sold as quickly as optimist "KG" suggests. I reiterate again that if sold at $15M it would be almost double the highest sale ever in that county.

Dexter how is life going on the Main Line. Almost 1 year later and I see that there have been no takers yet for Ardrossan in Radnor.]]>Feb 7th 2008 1:20PM