The historic “Able Morehouse” property in Redding, Connecticut has been sold as the result of a live auction held this past weekend, according to Platinum Luxury Auctions, the luxury real estate auction firm that managed the sale.
Named after its original owner – who first built the home in 1768 – the property spent more than three years on-and-off the market searching unsuccessfully for a buyer, before being scheduled for a luxury auction sale with Platinum.
A total of five registered bidders participated in the auction, which was held on-site in the estate’s courtyard on the afternoon of October 28th. While the final sales price has not yet been disclosed, Platinum noted that the auction’s reserve bid of $1.25 million was exceeded. The high-end auction house conducted the sale in cooperation with William Pitt Sotheby’s International Realty, the listing brokerage of record.
This sale represents the second consecutive historic home in Fairfield County sold by Platinum and William Pitt in 2017. This summer, the firms sold the Sunset Hall estate in Ridgefield, CT for more than $3.65 million. “As these historic properties become more challenging to sell in today’s marketplace, we’re pleased that our process has proven to be a reliable sales and exit strategy for the sellers of these assets,” stated David Ashcroft, Platinum’s director of business development. Mr. Ashcroft added that Platinum has also sold other historic properties, such as its 2016 sale of a 115-year-old castle located about 40 minutes outside of Aspen, Colorado.
Although nearly 250 years old, the Redding property has enjoyed significant improvements over the centuries. In 1902, it was acquired by Noble Foster Hoggson, a prominent New York architect who redesigned the house in his version of the Colonial Revival Style. In 2006, the current owners performed their own renovations, adding modern creature comforts.
The estate’s two-story residence currently offers more than 6,300 sf of living space, with 6 bedrooms, 5 full and 2 half baths. Features include wide-plank hardwood floors, six fireplaces, central heating and cooling, and a spacious kitchen with butler’s pantry.
Property grounds include 24 acres of beautiful lawns and gardens, in addition to a heated pool with pool house and an 8,000-sf, two-story barn. Ten of the estate’s 24 acres are protected under conservation, further ensuring its tranquility.
Platinum Luxury Auctions is responsible for developing the luxury auction model for high-priced real estate auctions, and owns the rights to the term “luxury auction.” The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum’s team has closed more than $721 million in luxury real estate auction sales to date, while consulting on more than $2 billion in additional luxury properties worldwide.
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