1798 Massachusetts mansion bought for $2.16m later sold for city-record $5.2m
A historic 1798 mansion in Newburyport, Massachusetts, has sold for a record-breaking $5.2 million. The property underwent extensive restoration and expansion, significantly increasing its value from its 2016 purchase price of $2.16 million.
Why it matters
This sale reflects the high demand for luxury historic real estate and the significant appreciation of property values in affluent New England markets.
Some houses are measured in square feet; others, in centuries. On Newburyport’s historic High Street, the Philip Coombs House has managed to accumulate both. Built in 1798 for a merchant and shipbuilder, the grand Federal-era property has now changed hands for $5.2 million, setting a new residential sales record for the Massachusetts city. The price is particularly striking given that the mansion sold for $2.16 million in 2016, before an extensive restoration and expansion reshaped the property for contemporary luxury living.A historic address gets a new chapterLocated at 51 High St., the more than 7,000-square-foot estate occupies over 2.5 acres in The Ridge, one of Newburyport’s most prestigious historic neighbourhoods. According to Hoodline, the property’s latest sale marks the highest price ever recorded for a home in the city.The scale of the residence is remarkable even by modern standards.
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