Jun 6, 2014
09:25 AM
Connecticut Today

Katharine Hepburn's Connecticut Estate Back on Market, for $14.8 Million

Katharine Hepburn's Connecticut Estate Back on Market, for $14.8 Million

Actress Katharine Hepburn's former estate in Old Saybrook.

It looks like Katharine Hepburn’s former estate, known as “paradise” is not quite priceless, as the famous credit card commercial says.

In fact, Kate Hepburn’s estate, the sprawling white brick mansion overlooking Long Island Sound on three sides is priced to “sell” and not to “sit,” with the $18 million price tag lowered to $14.8 million, says current owner New York developer and Fenwick resident Frank Sciame. This price reflects the sale of the main house and dock at 10 Mohegan Ave.

Take a house tour here, see slideshow: (Right, Hepburn in Old Saybrook after the 1938 hurricane; Connecticut Historical Society photo.)

Sciame and his wife, Barbara, had bought the house and waterfront property 10 years ago, a year after the legendary actress’s death, paying $6 million. Following extensive renovations, such as lifting the 8,500-square-foot house up 5 feet to prevent flooding (while keeping the original masonry intact), and subdividing the property into three lots, the asking price was at its highest, at $30 million for the whole magilla; a year or two later it was lowered to $28 million.

The manse had been rebuilt by the Oscar-winning star after the Hurricane of ’38 leveled her family summer home. The actress lived in the house until she died at age 96. She was known to go swimming nearly every day up until her 80s and was photographed in her black maillot swimsuit emerging from the water on her snow-covered beach.

The storied home was taken off the market last July by Sciame. He put it back on the market in late May.

Sciame said in an email: “The Hepburn House started out as an investment property. After raising the brick structure 5 feet and planning for the extensive multi-million dollar renovation, the house grabbed both my wife and I, and seemingly just wouldn't let go.

“We came to understand why the Hepburns were so fond of the house and property,” he said.

“But now, after enjoying 10 summers there, it is time to move on and go back to spending most our summers at the ‘Sciame’ family Home in Locust Valley (on Long Island). So we have changed the approach from ‘Priced to Sit’ to ‘Priced to Sell.’”

The Sciames are selling the Hepburn House on the largest piece of property with the dock for $14.8 million and “are keeping a piece of paradise for ourselves.” The east beach house and west lot are not for sale, he added.

See the full story at the Shoreline Times.

 

Katharine Hepburn's Connecticut Estate Back on Market, for $14.8 Million

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