Sunday, February 05, 2006

MANOR OF WOES

The Philadephia Inquirer reports:
It takes a lot of effort to sell a mega-mansion. Especially when the stars seem aligned against it.

Despite a gala, an auction, and other marketing strategies, Lion's Gate, the 29-room Malvern estate owned by cardiologist Kenneth R. Kensey - 27,000 square feet of decadence, including nine bedrooms, 19 baths, five kitchens, a fitness center, servants' quarters, a pool house, and heated garages for six cars - has been on the block for more than a year.

Lots could account for that, said listing agent John C. Dubbs Jr., of Prudential Fox & Roach Realtors. Not everyone would want the one-of-a-kind property, even at $5.9 million, many furnishings included - an "unbelievable bargain," Dubbs said, considering its original price of $13 million.
You might say the market is rather specialized at the top end.