This 7-Bedroom New York Manse Just Hit the Market for $30 Million—and It’s Not Even Built
A rare real estate opportunity just became available in the New York City suburbs, but turnkey it is not.
An unbuilt mansion on the waterfront in Rye has hit the market for $30 million, The Wall Street Journal reported, making it the most expensive residential property for sale in the neighborhood. Located at the Tide Mill Yacht Basin, a 50-slip marina, the estate is envisioned as a seven-bedroom main house with a two-bedroom guesthouse and a waterfall-edge pool.
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The builder Paul Varsames plans to knock down an existing home on the lot to make room for the 11,000-square-foot house. Since construction won’t start until someone buys the home, that person could customize the plans. But for now, the property is expected to include a gym with a sauna and steam shower, while outside there will be a covered living area with a grill and ceiling heaters.
Sitting on Kirby Pond, the estate also includes a mill building created around 1770. The current owner, Peter Donahue, uses it as office space and a workshop. “It’s probably the most photographed location in Rye,” he told the WSJ. The new plans for the property keep the mill building intact but have it serving as a recreational space, with a kitchenette, sitting room, gaming room, and storage spaces.
Donahue’s family has owned and operated the marina since 1972, with Paul taking over in 1986 and moving into the 1830s home that currently sits on the three acres of land. Now that he’s planning to retire, he’s selling—and whoever buys the property could choose to continue operating the marina as well.
If the Rye estate sells for its asking price, it would become the most expensive sale in the area, according to Joan O’Meara of Houlihan Lawrence, one of the listing agents, alongside Sara Gore of Serhant. She told The Wall Street Journal that the priciest sale so far is a home that sold for $21.2 million in 2016. And the area has become even more popular over the past few years, with 80 to 90 houses for sale at any given time pre-pandemic and just 22 properties on the market right now.
Given that such large lots are rare for Rye, as is new construction on the water, the marina property may be a real catch.
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