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October 20, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Seychelles consulate’s North Castle estate listed at $2.5M

1503 Old Orchard St.

The 43-acre North Castle estate that is home to the consul general of the Seychelles has been listed for a June 13 sealed bid auction at $2.5 million, more than 60% below its recent listing of $6.75 million.

The property was originally owned by the Straus family that ran the Macy’s retail chain and was bought in the 1980s by the publishing industry’s Hearst family. The Seychelles government bought the property in 2016 for $2.2 million as the family home of Consul General Justin Etzin. But according to Paramount Realty USA, the decision to sell the property followed the diplomat’s divorce from fashion model Lana Zakocela.

The 7.9-acre estate includes a 13,721-square-foot, 8-bedroom, 10-bathroom main house built in 1931 plus a 1,300-square-foot log cabin, guest cottages, original stables, custodian’s house and a parking garage – which the listing agent noted are “all in need of a full, gut-renovation.” The property also features Quarry Lake, a deep spring-fed lake, and ground has been dug out next to the main house for a 60-foot pool. The property is surrounded by 490 acres of conservation land.

“We are pleased to present for auction 1503 Old Orchard Street in North Castle,” said Misha Haghani, owner of Paramount Realty USA. “Rarely does a property so rich in history and with so many potential uses, become available for sale by auction. A developer or end-user purchaser may choose to gut-renovate or demolish the main house, subdivide the property into three-to-six individual lots, or renovate it as a school, religious compound or other facility.”