$55 Million Estate For Sale In Massachusetts
An impressive historical property has been listed in Cohasset, Massachusetts for a really impressive price, $55 million. The property is actually four properties on Cohasset Harbor and includes not just a 20,000 square-foot mansion but also the Cohasset Harbor Resort, and the Atlantica and Olde Salt House restaurant complex as well as the Mill River Marina. The area is a popular summer destination and the resort and restaurants have been the site of many weddings.
The property once belonged to Clarence Barron who bought Dow Jones & Co. in 1902 for a mere $130,000 and is considered to be one of the key creators of modern financial journalism. After Barron died in 1928, his stepdaughter Jane Barron tore down the original home and built the 45-room brick Georgian Revival house now on the property. She and her husband inherited Mr. Barron's stake in Dow Jones and their descendants sold the company in 2007 for $5.16 billion to News Corp. Her granddaughter lived in the house until her death in 1982.
Gallery: 49 Margin Street
The mansion accounts for half the asking price but listing agent Jonathan Radford hopes that one buyer will take the whole package. The current owner is Peter Roy, a retired investor who sold an independent power company in 1998. The Roys have renovated the mansion, adding a roof deck and a large private dock that can accommodate yachts more than 100 feet long. They also paid to dredge the public harbor to create access for large boats.
The mansion known as The Oaks has ten bedrooms, a library, sunroom, gallery,media room, billiard room, home gym, pub room and wine cellar. The family room alone is 816 square feet. Outside there is a giant chess board, pool, pool house and grilling stations. The Boston Globe reports that taxes on the home totaled $107,000 this year.
The mansion flies the Canadian and American flags and the Roys are reportedly selling to spend more time in Toronto.
The shot above shows the Roys' massive yacht.
The new dock will appeal to boat lovers.
Formal gardens offer a harbor view.
The property includes a tennis court and children's playhouse.
The Cohasset Inn.