SOLD | Built 1989 | 22,500 Sq. Ft. | 8 Beds | 12 Baths | 24.8 Acres
It’s been 3 years since the Penderyn Estate sold at auction but the results are likely still stinging the seller. The 24.8 acre peninsula was developed in 1989 for Mario J. Boiardi, a businessman and son of Hector Boiardi, the New York chef who created the Chef Boyardee brand. Mario and his wife, Maureen, reportedly poured upwards of $18 million into finishing the 22,500 square foot mansion before selling it in 1999 to Morgan O’Brien, a founder of Nextel Communications, and his wife Belle Brooks O’Brien, for $8 million according to What’s Up? Media. Seven years later O’Brien would try and turn a profit, listing the property for $29 million. With no takers, the price was reduced to $8 million and the mansion was eventually auctioned with DeCaro Auctions in 2014. The property was sold for $3.9 million, less than half of what O’Brien originally paid, and only 28 percent of the $13.9 million assessed value of the estate according to What’s Up? Media. It didn’t end there. The new owner subdivided the land and tried to sell an 11 acre parcel, however, it appears there were no buyers. The full property hit the auction block a second time just three years later, selling for just $2.7 million.
The 22,500 square foot Georgian-style mansion includes 8 bedrooms, 9 full & 3 half bathrooms, 11 wood burning fireplaces, vaulted ceilings, Palladian windows, private balconies, a dining room with seating for 22 guests and views over the Wye River. The property features a swimming pool, pool house, large patios, 157′ dock with 11 slips, courtyards, trees, meadows and gardens.Auction description: Surrender to elegance at this 22,500 square foot Georgian-style estate. Originally constructed for the sole heir of Chef Boyardee and built for entertaining, The Penderyn Estate features eight bedrooms, nine full and three half baths, an Italian-styled kitchen with state-of-the-art appliances, and a dining room with seating for 22 guests. From the marble floors to the 18-carat gold leafing on the crown molding in the foyer, this magnificent manor exudes sophistication from top to bottom. Take the entertainment outside to the expansive courtyard, complimented by a pool with a stately 15′ bar and stunning patio. A guest house and summer home leave plenty of space for guests to retreat at the end of a wonderful evening. Set triumphantly among an abundance of gorgeous trees and colourful gardens, this marble-clad masterpiece is a home of rare and beautiful distinction.