Buying and selling real estate in the communities of Long Island
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New York hotelier selling Oyster Bay Cove house
Hotelier Paul Stallings, owner of the uber-chic 21-story Hotel on Rivington in New York City's Lower East Side, is trying to sell his Oyster Bay Cove home.
The eight-bedroom, 9.5-bath home is listed for $3.95 million. Built in 1915, the classic 9,000-square-foot center hall Colonial is often featured in photo shoots, including one in the magazine Marie Claire, says listing agent Margaret Trautmann with the Daniel Gale Sotheby's International Realty's office in Locust Valley.
"Martha Stewart designed their kitchen and she shot one of her shows out of that kitchen," says Trautmann. "It's a beautiful, classic home."
There's a barn and access to riding trails on the 10-acre property. There also is a five-car garage, as well as a tennis court and a pool. The home has six fireplaces in its 21 rooms. Taxes are $58,401 a year, and it is in the Oyster Bay-East Norwich school district.
Stallings talks about the home and kid-friendly property -- sledding hill, soccer and baseball fields -- his family has enjoyed for 14 years on LX.TV's "OpenHouse NYC" Web site.
In addition, the property has two legal cottages with yearly rental income of $70,000. "It's a really ideal situation for someone who wants to live here and have their taxes covered [by the rentals], along with some of the outside maintenance," Trautmann says. "It's a fabulous property."
Permission Daniel Gale Sotheby's International Realty