A 1907 mansion once owned by one of America’s wealthiest real estate developers could be demolished now that the village of Scarsdale, N.Y., has declined to rule that the home is worth preserving for its historical value.

The eight-bedroom home where Leonard Marx died in 2002 at the age of 97 was extensively renovated in 1952 and again in 2004, scarsdale10583.com reports. The community news website had previously reported that the house went on the market in 2012 with an asking price of $12.995 million, and it’s still listed on realtor.com for $7.25 million.

Developer David Fenton of Twin Oaks Construction now has a green light to build something more modern on the 5.39-acre site — perhaps a home that will attract a buyer who, like Marx, qualifies for the Forbes 400 list of richest Americans.

“I found it disturbing that yet another home in the Heathcote Association would be knocked down and most likely replaced with a mega-size Colonial, indistinguishable from the others that line this majestic Scarsdale thoroughfare,” writes the anonymous author of scarsdale10583.com’s report. “Though I understand that the house did not meet the criteria for preservation according to the current village code, the Heathcote Association surely merits historic designation as a neighborhood and it’s a shame that the board of trustees cannot find a way to preserve the neighborhoods that define our community.”

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