A Storied New York Estate With 846 Feet of Water Frontage Hits the Market for $14.6 Million

A sprawling waterfront estate in Long Island, New York, that boasts a historic brick manor house and 846 feet of water frontage along the shorelines of Long Island Sound, hit the market for $14.6 million Friday.

The nearly 9,000-square-foot house in the Village of Nissequogue was inspired by the Governor’s Palace in Williamsburg, Virginia, and has been under the stewardship of many prominent families since it was built in 1935, according to listing agents Tom Postilio and Mickey Conlon of Douglas Elliman.

One of the previous owners was—per the agents—Gilbert Greenway of the Lauder Greenway family, which made a large impact on the Industrial Revolution in their contributions to metals, mining, and mechanical engineering industries. The most notable family member was George Lauder, Mr. Greenway’s maternal grandfather who co-founded the Carnegie Steel Corporation with his “cousin-brother” Andrew Carnegie.

The Lauder Greenway family was known for their Gilded-Age mansion on 50

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Why Road Frontage on Commercial Property is So Valuable

How many feet of road frontage does the property have?

This question is among the most important when assessing the value of commercially zoned property in a city or county. For some, the reason as to why this question is so important may seem rather obvious. However, there are multiple reasons why investors, developers, builders and business owners want to have large amounts of road frontage on their commercial properties.

For business owners, it is best for them to have their stores located conveniently to their customers. If they are on a main highway or road, they will have great visibility to the traffic going by. This can quite possibly bring customers into their stores that they normally wouldn’t see through their normal marketing. Also, a customer new to the location can find the store much more easily when in the line of sight. Visibility on major road frontage is … Read More