Even art dealer’s homes—or especially art dealer’s homes—start high and then sometimes pull back the price. It’s all about finding the right place and price in the marketplace.
Warren Adelson, a recognized authority on painter John Singer Sargent and others, put his roughly 13,000-square-foot house on Sleepy Hollow Road in Briarcliff on the market in February for $10.9 million. The price has just been reduced to $9.8 million.
The total property is 16 acres of thickly wooded land, which provides Hudson River views and is very close to Sleepy Hollow County Club, one of Westchester County’s most exclusive clubs.
Its main house was built in 1929 for banker William S. Lambie and designed by architect Mott Schmidt, explains Curbed.com, which reported the price reduction and property listing.
Schmidt, it seems, designed homes for the Vanderbilt’s, the Rockefeller’s and the Astor’s.
In fact, Brooke Astor’s Holly Hill estate, had a stone mansion designed by another society architect William Adams Delano, was very close. After Astor’s death in 2007, the 67 acres was was sold in 2011 for roughly $7.5 million. The first price was originally $12.9 million , lowered to $10.5 million, $9.75 million and, finally, to $7.5 million.
The Astor house sat on the market for at least three years before finding a buyer—a hedge fund owner from the Rivertowns.
But back to Adelson’s grand home.
It has ten bathrooms, eight bedrooms, five fireplaces and quite a living room.
Property taxes in 2012 were $164,928. Houlihan Lawrence describes it as “quite simply on eof the region’s finest properties.”
Adelson is president of Adelson Galleries in Manhattan and is known as an art historian as well as a distinguished art dealer. His gallery specializes in modern and American impressionist art and has held exhibits of Mary Cassatt, Winslow Homer, Andrew Wyeth. He is considered an important authority on the works of John Singer Sargent.