Bedford's Sunnyfield Farm Sold for $30.7 Million, Setting a New Record
A 214-acre estate known as Sunnyfield Farm in Bedford, Westchester County, has been sold for $30.7 million, setting a new record for the area. Initially listed for $65 million in 2022, the final sale price was less than half of the original ask, falling just short of the county record. The property, which includes facilities for over 80 horses and extensive equestrian amenities, was purchased by a family that plans to continue using it as a private horse farm. The estate, previously owned by the Nielsen family who bred thoroughbreds including some sired by Triple Crown winner American Pharoah, also features a four-bedroom main house, a guest cottage, and staff homes. The sale, facilitated by Sotheby’s International Realty’s Krissy Blake, underscores the challenges developers faced in envisioning a financially viable project on the site.
Key Takeaways
- Bedford estate, Sunnyfield Farm, sold for $30.7 million, a Bedford record.
- Sale price was less than half the initial $65 million asking price.
- New owners, a family that breeds, plan to maintain the estate as a private horse farm.
- Property includes facilities for over 80 horses and 100 acres of paddocks.
- Previous owners, the Nielsens, bred thoroughbred horses including foals by Triple Crown winner American Pharoah.
Analysis
The sale of Sunnyfield Farm for $30.7 million, significantly below its initial $65 million listing, reflects a softening in high-end real estate markets. This could be due to economic uncertainties or a shift in buyer preferences towards more modest luxury properties. The lower sale price may impact local property values and the prestige of high-value estates in Westchester County. The decision to maintain the estate as a horse farm preserves its heritage but limits potential for development profits. This transaction might influence future pricing strategies for similar properties, encouraging more realistic valuations to secure quicker sales.
Did You Know?
- Triple Crown Winner: Refers to a horse that wins the three prestigious races in American thoroughbred racing: the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes. Winning all three races in the same year is considered one of the most difficult accomplishments in horse racing.
- Sotheby’s International Realty: A luxury real estate brokerage firm that operates globally, known for handling high-value properties. It is part of the Sotheby's brand, which also includes the famous auction house. The realty branch specializes in marketing luxury homes and estates worldwide.
- Equestrian Amenities: These are facilities and features designed specifically for horse-related activities. They can include stables, arenas for riding and training, paddocks, and specialized tracks for various equestrian sports. In the context of the estate, these amenities would support the breeding and training of horses.