Historic Woolworth Estate on Long Island Sells for .25 Million

Historic Woolworth Estate on Long Island Sells for $8.25 Million

A far more than 16-acre New York estate that when belonged to F.W. Woolworth of


A far more than 16-acre New York estate that when belonged to F.W. Woolworth of the famed five-and-dime shop chain has marketed for $8.25 million—more than 50{57822543fd2ab0c93c05a03e13366fd885615948b04c62b898a7f93f9ba5d002} much less than its initial inquiring cost. 

Designed in 1915, the ornate, 30,000-square-foot mansion in the Lengthy Island town of Glen Cove sold on Wednesday, in accordance to the Several Listing Assistance. 

The buyer was a Extended Island resident who made an all-cash present, according to listing agent Margaret Trautmann of Compass. She explained he has knowledge renovating big homes in the space and intends to stay in the mansion just after its makeover, but declined to further detect him. Information of the sale are not however obtainable, so Mansion World could not independently discover the purchaser.


Most a short while ago detailed in August for just underneath $10 million, Ms. Trautmann explained that she very first promoted the property for two times that in 2006. Whilst they gained a $19 million supply at that time, also all dollars, “they weren’t all set to offer,” she reported. 

It was most a short while ago owned by Martin Carey, the late entrepreneur and preservationist who was a more youthful brother of Hugh Carey, who was New York governor from 1972-82, according to records with PropertyShark. Carey owned the residence due to the fact the ’70s, and was focused to preserving Gilded Age mansions on Extensive Island and in Newport, Rhode Island. He died in 2020 at the age of 98. 

Even now regarded as the Woolworth Estate or Winfield Corridor, the property was developed by Woolworth—whose initials stood for Frank Winfield—after a shingled dwelling on the internet site burned down. 

A music nook.


Compass

“In 1913, he decided to make a property to defend his a few girls and his wife,” Ms. Trautmann reported. “That’s why he designed a marble house—so that it would not burn to the ground…it took involving 1913 and 1915 to construct this house…[and] he evidently expended $10 million setting up it and $2 million on the marble staircase.”

It also boasts a lobby with 33-foot ceilings and gold leaf ceilings, moreover 2-inch thick butterfly marble that appears to have the bugs embedded in the pink-and-beige stone, the agent additional. There’s also bespoke millwork and chandeliers in the course of, plus a music nook with area for a grand piano and a lot of other period information. 


Woolworth died immediately after dwelling in the house for just a few several years, and a nephew of R.J. Reynolds, who owned the eponymous tobacco organization, procured the residence. The 17,000-square-foot carriage household was converted into a workshop, and Reynolds Wrap aluminum foil was designed for food items uses there, Ms. Trautmann spelled out. 

The mansion was also home to the Grace Downs Design and Air Career School among 1963 and 1976. The university educated flight attendants and designs, and was therefore nicknamed the Glamor Faculty, the agent included. Newsday very first claimed the offer.