The famous Swain's Neck Estate on Nantucket Island, Massachusetts, has reportedly made a comeback on the open market with a reduced price for $35 million.
This is the third price cut for what was once touted as New England's most expensive single-family home. But, in July 2012, another estate on Martha's Vineyard, priced at a whopping $92 million, took away the title.
However, Swain's Neck still remains the most expensive single-family estate for sale.
The Swain's Neck property was purchased by Russell Dale Phelon - late owner of R.E. Phelon Co., which makes engine electronics - for $7.15 million in 1997. It was listed for $59 million in May 2012 after Phelon passed away in March, that year. In March 2013, the asking price of the home was discounted to list at $47.5 million.
Failing to sell even with a lowered asking price, the home was de-listed. According to Curbed, during its time off-market the home received two offers but the seller refused them. The home is now back again with another price cut.
The estate's location and its exquisite features make up for its lofty price tag. The huge property sits on the Polpis Harbor with three waterfront sides. The entrance to the estate is marked by a wooden bridge over a salt marsh. The bridge leads to an electronic gate opening into a driveway.
The 56,000-acre property has a two-bedroom cottage, an octagon shaped office, a boat-house and a main unit. The main unit has nine bedrooms and ten bathrooms, spreading across an area of 7,856 square feet.
According to Forbes, the main unit was razed and rebuilt after Phelon purchased it in 1997. The main home is the epitome of luxury living with exquisite spaces including a gourmet kitchen, a parlor, a media room, a wet bar, fireplaces and private decks.
The Swain's Neck estate listing lies with the Great Point Properties, a major real estate firm of Nantucket Island and Christie's International Real Estate.
Check out the photos of the magnificent property here.
