You Can Save Up to 60% on This $35M Gladwyne Mansion
No need to present a Groupon for this discount, either. Just submit the winning bid on Nov. 14th.
The late, lamented Daffy’s advertised “clothing bargains for millionaires.”
And why wouldn’t someone who’s filthy rich love a bargain just like the rest of us?
If you’re that filthy-rich bargain-hunter, we have a doozy of a housing bargain for you today: this 12,704-square-foot (not counting the basement) English Gothic Revival mansion set on a little more than 32 rolling acres in Gladwyne.
Its builder, hedge fund manager and attorney Andrew Barroway, moved to Arizona a few years ago, leaving his wife and children in the house after they divorced. With his youngest child now safely ensconced in college, the post-divorce agreement no longer applies, and Barroway put this house on the market in 2016 for $28 million.
Barroway spent a total of $35 million building the house in 2006 — $12 million for the land and another $23 million for the structure — so clearly, getting back what he put into this place isn’t a high priority for him. And now that he has sold 95 percent of his minority stake in the Arizona Coyotes NHL franchise, it’s even less of a pressing issue, apparently.
“Apparently” because he has put this house up for auction with a reserve price of just $14.9 million.
He has done that, says Paramount Realty USA Principal Misha Haghani, because “he wants to sell the property, not list the property. He doesn’t want to wait another six months, 12 months or two years” while the property languishes on the market, as many other ultra-luxe listings have. Barroway chose New York-based Paramount to handle the auction because of its expertise in quickly selling large properties.
And speaking of ultra-luxe: No term could describe this property better. If “the road of excess leads to the palace of wisdom,” then this mansion is that palace. No expense was spared, no feature neglected, in putting this property together.
Upstairs, it contains six spacious bedrooms, six full and three half bathrooms, a mahogany-paneled home office and kitchen, a wine tasting room and a great deal more.
Down below, the 5,466-square-foot finished basement is a complete indoor recreation center. It has a huge game room with wet bar, an arcade and TV lounge, a home theater with stadium seating, a professional-grade gym, an indoor swimming pool and a wine cellar where you can stash what won’t fit in the upstairs tasting room.
Outside, it has multiple terraces, a four-car built-in garage, a detached three-car garage with accessory apartment, a lighted tennis court, and ATV riding trails. Two other structures dating to the 1700s also grace the grounds.
“Everything we built is real,” Barroway says in a news release announcing the auction listing. “Real stone. Real slate roof. We built a home with the exterior of a classic Main Line mansion and modern interiors. The home has everything; we spent $1 million on geothermal heating and air conditioning alone. That should shed some light on how much we put into building this property.”
Both Haghani and Barroway say this house makes an ideal place to raise a family. “[The] size and breadth of the property and its improvements provide tremendous flexibility for a family of any size to live, play, entertain and do much, much more,” Haghani says in the release. “I loved growing up in Philly and raising my children in Gladwyne. It’s truly a wonderful community,” Barroway adds.
And now all this can be yours for a mere $14.9 million.
All you need to do if you’d like to own this family-friendly pleasure palace is visit the house’s listing on the Paramount Realty USA website and follow the instructions there. The deadline for written bids with a 10 percent deposit is Nov. 14th at 4 p.m. Eastern Time; the bids will be opened that evening.
Updated Sept. 19th, 11:44 p.m., to correct the auction reserve price.