Northwood Estate Finally Sells

by Deidre Woollard (RSS feed)
Jul 30th 2008 at 8:01AM

How's this for a price reduction? The Normandy-style estate in Oyster Bay, New York is finally under contract for $18 million. That sounds like a lot of money until you consider that the property was originally listed in 2006 for $43 million. The home was built by famed architect Charles P.H. Gilbert in 1906 and has ten bedrooms, staff quarters, a bowling alley, wine cellar and more. The grounds include a Tudor-style coach house, 12-stall stable, tennis house, both indoor and outdoor tennis courts and a pool. The property is listed as having approximately 26 acres surrounded by 114 preserve wooded acres. The listing back in 2006 described it as having sixty plus acres surrounded by 80 acres of conservation land and Newsday reports that last year, Nassau County purchased 33.5 acres of the estate for $11 million for preservation purposes. So it's more like a $32 million listing went for $18 million. Still, that's quite a price chop.

Northwood was once a 900-acre estate owned by banker Mortimer Schiff. Schiff built a massive 120-room Tudor house on the site but his son John replaced it with the comparatively modest home that is on the land today in 1948.

Gallery: Northwood

Tags: new york, NewYork, northwood, oyster bay, real estate, RealEstate

Filed under: Estates

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Reader Comments (Page 1 of 1)

kenny17995 Jul 30th 2008 2:29PM

wow, that indoor tennis court is amazing!

visit my website at: http://www.homesoftherich.net

Jay Jul 31st 2008 12:28AM

This was the Frank Richardson's house, which was decorated by the incomparable and astonishingly expensive Henri Samuel.
Whoever got this got a superb house!! Flawless!!
They should buy it furnished!

Spectacular Bid Aug 4th 2008 5:59PM

Jay remarked "This was the Frank Richardson's house ..." although I'm exceedingly confident that it has never left the Schiff family hands until this sale.

John Mortimer Schiff (1904 - 1987) had it built it and his 2nd wife from 1976 on the late socialite Josephine (known as 'Fifi') Schiff resided there. Her stepson Peter G. Schiff is the current owner and seller. He races horses under the name "Fox Ridge Farm'.

The house while designed by Charles Pierrepont Henry Gilbert it was the stables designed by the exceptional architect Alfred Hopkins. James Leal Greenleaf was the landscape architect.