Kings Point estate listed with $15M price cut

Kings Point estate listed with $15M price cut

A real estate agency has slashed the asking price for a lavish Kings Point estate by $15 million, but it remains Long Island’s most expensive listing.
The eight-acre compound with an unobstructed view of the Manhattan skyline was listed by Diane Polland of Coldwell Banker Residential Brokerage for sale at $100 million in September 2015, but the estate, which was listed with Laffey International Realty on Friday, is now offered at $85 million.
Paul Tyree, one of the listing agents for the property along with Mary Stanco, said the owner was “looking to get a little more aggressive” to find a buyer.
The current owner, a limited liability company whose name was not identified, purchased the property from now-deceased billionaire Tamir Sapir for $15.85 million in 2013, according to The Wall Street Journal.
The European-style mansion was built in 1928 and is now equipped with state-of-the-art smart home technologies including audio and video control systems by Crestron Electronics and operating systems that can be maintained by a smart phone or tablet, Tyree said
Precious stones including lapis, agate and onyx decorate the interior of the mansion, he said
The estate also includes amenities such as a ballroom, multiple indoor and outdoor pools, a racquetball court, fitness and yoga studios, a wine vault and saunas, according to the Laffey International listing. There are 18 bedrooms, 24 full bathrooms and eight half bathrooms.
The two guest houses include an indoor pool, bowling alley and gaming casino room.
Tyree said surrounding the property are fountains inspired by the Grand Cascade at the Peterhof Grand Palace in St. Petersburg, Russia.
The waterfront property also boasts a 250-foot private dock on  Long Island Sound looking toward the Manhattan skyline, according to the Laffey International listing.
Tyree said a number of factors justify the asking price, including the property’s amenities and “the detail and the qualities” that have been gone into it.
He also said that real estate professionals have said the replacement value of the home is about $150 million.
Emmett Laffey, chief executive of Laffey International Realty, told Newsday that the large investment in the home justifies the asking price.
“The inlaid marble alone is probably several million dollars,” he said. “This is just something that’s in its own league.”

By Joe Nikic

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