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Daily Real Estate News | July 6, 2007
Martha Stewart Sells Famous Turkey Hill Estate
Martha Stewart has sold her famed Westport, Conn., estate known as Turkey Hill for $6.7 million – 26 percent less than the listing price.
Stewart and her then-husband Andy Stewart bought the four-acre property in the early 1970s in two parcels for a combined $80,750. The estate includes a 3,168-square-foot, three-bedroom farmhouse, built in the 19th century, a converted carriage house and barn where Stewart entertained guests.
Stewart started her catering business out of the basement about 25 years ago. Many of her decorating ideas stemmed from the renovations that she did on Turkey Hill.
Earlier this year, Stewart offered the main house on two acres for $4.5 million, although she never cut the price on the full estate. Susan Warburg of Williams Raveis Real Estate had the listing.
The sale closed on June 15. The buyer is a limited liability corporation with Charles G. Berg as its principal. Berg was CEO of Oxford Health Plans Inc. until it was acquired by United Health Group Inc. in 2004. He plans few changes to the property because Martha Stewart “spent 35 years making it beautiful,” he says.
Source: The Wall Street Journal, Ben Casselman (07/06/2007)
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