100- Acre Estate in Newport Heads to Auction
A 100-acre estate in Newport, New Hampshire, once owned by the creator of the Long Island Rail Road and later by the inventor of the light machine gun, will be auctioned live on Sept. 7 with Platinum Luxury Auctions.
Andrew Peterson of The Petersons Inc. Country Real Estate is handling the late gun baron William Ruger’s property and has listed the estate at $2.5 million as a reference point.
“The family wants to sell it this year,” Mr. Peterson said. They have two big properties to sell, including the most expensive property on the market in Maine, according to listing records. Located in Bar Harbor, it’s listed for $12.5 million and is set to go to auction without reserve on the same day.
Listing records show that the estate listed in January for $3.75 million. Mr. Peterson said this price included the full 500-acre property and an extra three-bedroom, two-bathroom log cabin currently being rented out. This cabin can be purchased for an additional cost upon request.
The auction, which has no reserve, includes 100 acres, a 7,465-square-foot main house, a finished three-story barn, a separate gentleman’s library, a heated workshop and a four-bedroom guest house currently occupied by Ruger’s estate hands, a couple in their 80s, Mr. Peterson said.
The four-bedroom, six-bathroom house was built by 19th-century Long Island Railroad top executive Austin Corbin in the 1800s.
“He used to have a private railroad to bring his friends to the property,” Mr. Peterson said. Corbin also established Corbin Park, officially called the Blue Mountain Forest Association, an exclusive, roughly 25,000-acre, 30-member hunting club located adjacent to the property. Residents of the house will not have automatic membership to Corbin Park.
Read the original article by Miabelle Salzano at Mansion Global.