The U.S. real estate market is about to see a shift in the coming months, according to an industry expert.
Businesswoman and former “Real Housewives of New York” star Bethenny Frankel sold the home she owned in Connecticut.
The property, a roughly 3-acre estate known as “Applejack Farm” in the Greenwich area, fetched $7.825 million in a recent transaction.
The home sold for $7.825 million (Mike Cinelli of Jump Visual)
Corcoran Centric Realty’s Jeff Jackson represented Frankel, while Martha Jeffrey and Anne Oglivy of Sotheby’s International Realty were involved on the buyer’s side of the deal for the historic Greenwich home, according to a press release.
‘SHARK TANK’ STAR BARBARA CORCORAN PUTS $12 MILLION PENTHOUSE UP FOR SALE
Greenwich is a town located in the southwestern part of the Constitution State and is known for its affluence. The median home price there was $1.8 million in May.
The former Frankel home features both a main house and a guest cottage.
The house has five bedrooms, six full bathrooms and two half-baths, according to the press release.
There are five bedrooms in the main house on the multimillion-dollar property (Mike Cinelli of Jump Visual)
It is also replete with a spacious kitchen boasting La Cornue appliances, a large center island and dark cabinetry.
A view of the luxury Greenwich home’s kitchen (Mike Cinelli of Jump Visual)
A formal sitting room within the home has wood-paneled walls and a large fireplace.
A sitting room within the former Frankel home (Mike Cinelli of Jump Visual)
Beamed ceilings and ornate molding are present in many of the rooms.
The home also has a media room, bar and gym.
The home is located in Greenwich, Conn. (Mike Cinelli of Jump Visual)
The guest cottage has two bedrooms, two full bathrooms and one half-bath, according to the release.
FORMER OBAMA VACATION RETREAT ON MARTHA’S VINEYARD GOES ON SALE FOR $39M
There is also a “party barn” at Applejack Farm for entertaining in a separate space.
The property offers “mature specimen trees,” verdant lawns, a stone patio and a covered porch for enjoying the outdoors, the release said.
Applejack Farm was founded in 1743. Parts of it underwent a redesign under Frankel’s ownership while holding onto some of its historic elements, Architectural Digest reported.
“In a town where demand continues to outpace supply, even at the highest end of the market, the opportunity to own a legacy estate such as this one is very rare. Therefore, it is no surprise that the home was swiftly snapped up, epitomizing Greenwich’s current market trends,” Jackson said in a statement.
A view of the exterior of Applejack Farm (Mike Cinelli of Jump Visual)
Frankel, known for her role on “Real Housewives of New York” and establishing the Skinnygirl lifestyle brand, paid about $4.2 million for the property in 2021, according to House Beautiful.
The home had reportedly belonged to Frankel since 2021. (Mike Cinelli of Jump Visual)
While the former reality TV star has parted ways with the Greenwich estate, she still has homes in the Hamptons, New York City and Miami, with Florida serving as her primary residence, according to the outlet.
THE NEW PALM BEACH? JUPITER, FL, IS DRAWING LUXURY HOMEBUYERS
Frankel told the New York Post this week she “poured” her “heart” into “transforming” the Greenwich estate “into a true family compound” while she owned it.
Bethenny Frankel attends Glamour Women of the Year 2023 at Jazz at Lincoln Center Nov. 7, 2023, in New York City. (Dimitrios Kambouris/Getty Images for Glamour / Getty Images)
“I love real estate, I find properties very personal and the family moving in has acquired a generational historical gem, one that only 20 families have inhabited since the 1700s,” she said.
More than 13,800 people lived in the Greenwich area as of 2020, according to the Census Bureau.