Along the Atlantic Coast, east of the Big Apple, is an area known worldwide for its exclusive beaches, lavish parties and covetable opulence. Its massive summer estates and pristine waterfront views come with an air of privacy that is essentially unmatched. It’s beautiful. It’s luxurious. It’s the Hamptons.
There is no shortage of gorgeous property in this area, but a 20,000-square-foot estate once inhabited by automotive magnate Henry Ford has been stealing all the attention lately thanks in part to the unprecedented $175 million price tag.
The 42-acre estate was completely remodeled in 2008 by the most recent owner and boasts a quarter mile of private waterfront, which includes access to three ponds and Mecox Bay. The new owners will have plenty of space for entertaining family and friends with access to an outdoor pool and recreational areas, a greenhouse, carriage house, and 12 bedrooms and bathrooms.
The merits of real estate
Listing agent Cody Vichinsky says the history of the home has played a small part in the marketing strategy, but he thinks the long-term value of the home is what counts to potential buyers.
“It’s an element. It’s not a primary driver believe it or not,” Vichinsky said of the home’s history. “Given that it’s the most expensive property in New York state from a listing perspective at the moment, [the price is] certainly bringing a lot of eyes to it.
“The Ford pedigree of the property should only be indicative of the grandeur and quality, and I think that most people would be purchasing it for its fundamental merits of real estate more than they are having some sort of cache or association with the Ford family history.”
Vichinsky and his partner and brother Zachary have taken a careful approach to marketing the home, but the majority of media attention garnered by the listing has come as a result of the selling price, not because of a targeted public relations plan crafted by his team.
The Vichinsky’s favor a more “nuanced” approach, as he calls it. They rely most on two things: 1) the one-to-one leverage of their network and 2) playing up to what they know buyers will want.
“This is more about creating a value proposition to a targeted echelon of consumers around the world, so the marketing strategies we employ are both highly nuanced from a digital perspective as well as a distribution perspective,” said Vichinsky.
He believes most of their buyers will not only enjoy the estate as a private home, but seize it as an opportunity to generate more wealth since there’s so much room to create new lots around the main home.
Vichinsky says there’s been a healthy amount of interest from serious buyers, but he’s not sure how much longer the home will be on the market. “If I had a crystal ball, I wouldn’t be in real estate,” he laughed.
He said the key to marketing luxury homes is leveraging relationships and maintaining a spotless reputation. Those two things will go a long way.
“The most critical way to breed activity is through one-to-one leverage of a network,” he said. “[It’s about] really finding the right people and exposing the details of a property in a way that unlocks someone’s perspective.
“Provide value and results to your clients that they can talk about,” he added. “The only way to cultivate good relationships is to have deep intelligence and systems and service so that you can provide quantifiable value to your clients.”