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Long Neck Point Road

William Ziegler's Descendants Sell Massive Waterfront Parcel In Darien, CT For $57.5M
SOLDLand

William Ziegler's Descendants Sell Massive Waterfront Parcel In Darien, CT For $57.5M

Long Neck Point Road

$57,500,000

Building Size

Asset Type

Land

Closing

Dec 28, 2023

AI

The Ziegler Farm, a massive waterfront parcel in Darien, Connecticut, has been sold to an undisclosed buyer for a staggering $57.5 million. The farm is situated on Long Neck Point Road and spans an impressive 51 acres, making it a valuable asset in the area.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $57,500,000
  • Address: Long Neck Point Road
  • Market: Darien, CT
  • Acres: 51

The buyer's representative, Kristina Stewart from Outlook Realty, facilitated the acquisition of the Ziegler Farm. On the other side of the deal, Joseph Barbieri and Leslie McElwreath from Sotheby's International Realty represented the sellers. Although the buyer remains undisclosed, this transaction marks a significant deal in the Darien real estate market.

Note: Descendants of industrialist William Ziegler have successfully concluded the sale of the Ziegler Farm, a coveted waterfront property in Darien, Connecticut. The final sale price reached an impressive $57.5 million, highlighting the desirability and value of this exceptional asset.

Players

Leslie McElwreath

Sotheby's International Realty

Broker

$196.3M

vol

2 deals

Broker

Lone Oak Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93