DURHAM — The asking price for a 16-room, custom-built colonial mansion in the Blue Hills neighborhood has been reduced to under $1 million after being on the market since February.
The bank-owned property at 26 Pine Ledge Trail was first listed for $1.9 million following foreclosure. Listing Agent Leslie Brent, with Coldwell Banker, said the price reduction to $699,000 was mainly due to the amount of deferred maintenance the property requires.
“It’s just a really great property, it’s what we would consider a ‘trophy house,’” Brent said. “It looks like it was a great party house, plenty of things to do, it’s really a one-of-a-kind special property.”
Brent said the property would be great for someone with a vision and maybe who is into sports and hosting gatherings. She said, pending zoning regulations, the property could easily be turned into a bed and breakfast or banquet facility.
The main house, built in 1999, has 16 rooms including five bedrooms, six bathrooms and two half-bathrooms. The property is 11,016 square feet, which includes a pool house.
Other features include a three-car garage, full gourmet kitchen with top-of-the-line appliances, two-story windows in the living and dining rooms, a library, billiard room, sauna, media screening room, atrium, indoor/outdoor barbecue area and two-lane basement bowling alley.
The property includes a one-bedroom in-law apartment in the main house and a one-bedroom pool house, which features a living room, dining room, kitchen, bathroom and fireplace, in addition to a large outdoor pool, built-in hot tub, gym and indoor basketball half-court.
Brent said it has “beautiful views” as well.
The net assessment is $1.8 million and tax amount is $68,000.
The property is in foreclosure, owned by Bank of America. The foreclosure process began June 2014. The principal due was more than $1.5 million. With interest, escrow advances and other fees and expenses, the total debt was $2.5 million.
After nearly two years in court, the judgment of foreclosure by sale was made in March 2016. The bank acquired the home in August 2017.
For more information, contact Leslie Brent or Jimmy Glynn at 203-790-9500.
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