Home NewsBusiness Greenwich waterfront estate long owned by media executive sells for $28M

Greenwich waterfront estate long owned by media executive sells for $28M

by Marjorie

GREENWICH — A Belle Haven property in Greenwich has bought for $27.75 million, making it the most important waterfront transaction in Connecticut this yr.

The property at 23 Smith Street boasts practically 700 ft of waterfront alongside Greenwich Harbor, backed by greater than 5 acres of land, together with a primary residence in-built 1939, a visitor home and a barn.

Itemizing dealer Houlihan Lawrence declined to reveal the identities of the customer and vendor, who initially sought $39.5 million for the property when placing it available on the market in Might 2019.

In 2015 filings with the city of Greenwich, Peter and Laurie Grauer recognized themselves as homeowners of 23 Smith Street. Blockshopper.com reported their authentic buy value at $2.9 million in 1991.

Peter Grauer is chairman of Bloomberg, having taken over the position in 2001 from founder and 2020 presidential candidate Michael Bloomberg. The corporate didn’t reply instantly to a question on the Grauer’s residency standing. In 2011, the couple spent $7 million for a Mediterranean-style villa in Palm Seaside, Fla.

As reported by the Wall Road Journal and Bloomberg, Grauer signed a letter in March alongside some 250 different executives of New York corporations, asking Gov. Andrew Cuomo to keep away from elevating taxes, citing relocations by their workers to locales with decrease taxes.

Greenwich is among the many Connecticut cities which have benefited probably the most from a big inflow of recent arrivals when in comparison with neighboring cities in Westchester County with comparable estates.

The unique home at 23 Smith Street was in-built 1939 by Oliver D. Mead, a lumber supplier and banker who inherited the land that’s Belle Haven immediately, promoting off heaps over time for improvement. Landmarks and buildings all through Greenwich bear the Mead identify, which may be traced again to John Mead, who was among the many city’s earliest landowners within the mid-Seventeenth century.

The Grauer identify is connected to 1 small establishment on the town: the city’s oldest preschool run by the nonprofit Household Facilities, which in 2016 was renamed the Grauer Preschool after the couple created a scholarship program supporting early childhood schooling.

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