Auction company 

$35 Million Custom Compound in Pennsylvania Sold for $9.26 Million

This vast personalized domain has found a new owner, but at less than a third of the sum that was necessary to create it.

In Pennsylvania, hedge fund manager Andrew Barroway spent about $35 million in total to build the huge complex, only to recently sell it for a fraction of that price — $9.26 million, The Wall Street Journal reported.

After paying $12 million in 2006 for a huge piece of land just outside Philadelphia in the tony community of Gladwyne, the minority owner of the Arizona Coyotes hockey team has spent years and great fortune to build it in a 13,000 square foot mansion in a Gothic. Revival style. The six-bedroom, nine-bathroom property features a seven-car garage, indoor pool, tennis court, movie theater, ATV trails, wine cellar , five fireplaces and a guest apartment – all on 32 acres of rolling hills.

Barroway only lived at the property briefly, choosing instead to spend most of his time in Arizona while, following a divorce in 2013, his ex-wife and children remained at the lavish estate, a noted the point of sale.

The house sits on 32 acres.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
A cinema in the enclosure.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
One of nine bathrooms.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
The house has an indoor swimming pool.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
In all, the house measures 13,000 square feet.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
The estate was built in a neo-Gothic style.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
The new owner had rented the house for 14 months.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
A grand entrance.
Paramount Realty United States
Andrew Barroway's estate sells at a loss
The home had previously been listed for $28 million.
Paramount Realty United States

In July 2016, Barroway first attempted to offload the giant, listing it for $28 million, which would have set a local record had it been sold for that sum. After not selling, the price went down and down and down – until he instead tried to auction the property in 2019, with a reserve price of $14.9 million. That didn’t work out either, and in 2021 the resort was then put up for rent on Zillow for $40,000 a month.

Now the property is finally in Barroway’s hands, but at a hugely discounted price. Property records show the house was purchased by a trust linked to digital advertising executive Thaddeus Bartkowski, who told the Journal he had been renting the house for 14 months.

The advertising executive likes the complex for its seclusion, its similarity to homes in the Historic District, and “the quality and style of construction,” he told the publication.

Although the sale only brought in $9.26 million, the purchase process was extremely complex and the total was, in fact, significantly higher due to several other assets not included in the purchase price. . He declined to provide a figure for the amount. The deal involved several real estate representatives, including Harrison Todd of Keller Williams, auction house Paramount Realty USA and Lavinia Smerconish of Compass.

Related posts