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Royal Retreat For Sale In Connecticut
By DANIELLE REED
Staff Reporter of The Wall Street Journal
From The Wall Street Journal Online
Their home is their castle.
But Princess Marie-Chantal and Crown Prince Pavlos of Greece have moved to London -- and are selling White Ash Farm, their country estate in Connecticut. The 64-acre farm property in the Litchfield County town of Washington has an asking price of $6.2 million. The royals -- he's heir to the now-defunct Greek monarchy; she's the middle member of the celebrated Miller Sisters (the three socialite daughters of American duty-free tycoon Robert Miller) -- have three young children. The princess is about to open the flagship store for her own line of children's clothing -- Marie-Chantal LLC -- in London next month. With business keeping the couple there, they found it impractical to keep the ivy-covered circa-1740 stone house they bought in 1999 for $3.275 million through holding company Peck Realty Ltd., real-estate records show. They renovated and added a four-bedroom guesthouse and put in a pond. Besides the 5,000-square-foot main house, the estate also comes with a six-stall horse barn, a riding ring, tennis court, pool and poolhouse, entertainment barn, apple orchard and a stocked chicken coop. Peter Klemm, of Klemm Real Estate in Washington Depot, has the listing.
Seasonal Sale
Four Seasons restaurant co-owner Julian Niccolini and his wife, Lisa, have purchased a pied-à-terre studio in Manhattan's Sutton Place. The suburbanites "needed a place that was within walking distance from the restaurant," says listing agent Sabrina Kleier Morgenstern, of Gumley Haft Kleier. The 700-square-foot space was listed for almost a year, starting at about $240,000; the sale price was approximately $200,000. Although buyers showed plenty of interest in the property, which has big closets, wood floors, bay windows and a glimpse of the East River, the process of getting co-op board approval slowed the sale, Ms. Morgenstern says. While the Niccolinis may be quiet neighbors, their Philip Johnson-designed restaurant can get pretty rowdy. During last week's blackout, it was the site of an impromptu Champagne and foie-gras party. That's not the only noise lately: Diners have been up in arms about former corporate parent Vivendi Universal's plan to auction the dining room's "Tricorne," a stage curtain painted by Pablo Picasso. While he's hoping Vivendi will decide to donate it, Mr. Niccolini says galleries are calling daily seeking to provide a replacement. A Vivendi spokeswoman says no formal decisions have been made.
Lagging on the Lake?
Upper-end properties aren't moving as fast as they once were around Lake Tahoe, so some sellers are going the auction route instead. Ted Fuller, owner of Stonebridge, a new 13-room, 7,954-square-foot residence in Incline Village, Nev., listed it for $5.65 million in November 2002. But he says he didn't get any suitable bids. So now the former insurance executive plans to sell the five-bedroom residence to the highest bidder at a sealed-bid auction, with offers due Sept. 25. "It's a way of capturing the attention of the market and bringing the property to the forefront," says Steven L. Good, chairman and chief executive of Sheldon Good & Co. Auctions of Chicago, which will handle the proceedings. The home has broad lake and mountain views, two master bedroom suites, a media room and a game-room level. Why sell a brand-new home? During the four years of construction, Mr. Fuller says he changed his mind about moving and has decided to stay in his other residence in Incline Village.
Web Watch / Foreclosures
For bargain-hunters, the Web is an easy way to find properties in various stages of foreclosure. One site, Realtytrac.com, allows registered users to search by location to find soon-to-be foreclosed properties in all price ranges. The site shows lender information, the applicable state-foreclosure laws and contacts for agents with experience selling distressed properties. Like a competitor site, ForeclosureFreeSearch.com, each has free seven-day trials. But it's up to the consumer to remember to cancel when the trial period is up or continue being charged a monthly fee.