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Historic Northville Estate ‘Castello Montebello’ Sells for $2.9 Million

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News Summary

The iconic Castello Montebello estate in Northville has been auctioned for $2.9 million, a significant drop from its 2015 asking price of $14.5 million. Spanning 16,000 square feet, this luxurious mansion features seven bedrooms, a stunning theater, an exercise room, and a wet bar. The auction took place on August 26, attracting considerable interest. Potential buyers had the chance to preview the estate prior to bidding, emphasizing the home’s desirability despite market fluctuations. The new owner, who purchased without touring the property, is now part of Northville’s vibrant community.

Historic Northville Estate ‘Castello Montebello’ Sells for $2.9 Million!

What an exciting turn of events in the picturesque town of Northville! The stunning estate, known as Castello Montebello, has just been auctioned off for a cool $2.9 million, a far cry from its initial asking price of $14.5 million back in 2015. Can you believe the transformation this property has undergone? It started with dreams of grandeur, but in the end, it snagged a price that shows just how the real estate market can shift!

Take a Peek Inside Castello Montebello

Spread over an impressive 16,000 square feet, this European-style mansion is not just a house; it’s a luxurious experience waiting to happen. Nestled at 590 Dubuar Street, it proudly stands at the highest elevation in both Wayne and Washtenaw counties. Talk about a view!

Constructed in 2000, Castello Montebello features seven spacious bedrooms, seven full baths, and two half baths. It’s perfect for a large family or anyone who loves having guests over. And let’s not forget the lavish owner’s suite that’s practically a retreat within a retreat!

The Ultimate Entertainment Hub

If you enjoy throwing parties or just watching movies with family, this estate is designed just for you. The lower level is a true entertainment paradise, featuring a spectacular 13-seat theater inspired by New York City’s Paramount Theater. Plus, it boasts a wet bar, cozy booth-style seating, and a game room that would make any gamer’s dreams come true!

For fitness enthusiasts, there’s even an exercise room to keep up with your workouts, while a beautifully organized wine cellar makes sure your favorite vintages are always within reach. And of course, no mansion is complete without its luxurious touches, like a stunning four-story free-floating staircase and an elegant library for those quiet reading moments.

Impressive Auction Process

The auction took place on August 26, with bidding starting at an enticing $1.5 million. The property seemed to attract much interest, especially given that potential buyers had the chance to preview the estate on August 23-24 and August 25 before the big day. It was conducted in partnership with Interluxe Auctions and Signature Sotheby’s International Realty, ensuring a smooth and professional transaction.

A Flawless Property Inspection

Before the estate was put to auction, it underwent a rigorous home inspection, which surprisingly came back “practically flawless.” This is impressive, considering the home has stood for over two decades! It’s clear that the owner, Dr. Thomas Prose, took exceptional care of this magnificent property.

Final Sales and Future Opportunities

Ultimately, the estate’s final sale closed on October 7. The buyer, coming from out of state, did not even tour the home prior to bidding! Talk about confidence! Interestingly, an adjacent parcel of around four acres that was offered during the auction did not find a buyer, which could present future opportunities for those interested.

For now, Dr. Prose still holds onto his lovely lakefront retreat, charmingly named “Eagle’s Crest,” which had quite a buzz surrounding a previous auction.

What’s Next for Castello Montebello?

As the dust settles post-auction, Castello Montebello stands as a premier property in western Wayne and eastern Washtenaw counties. Although the price reflects a significant discount from its last asking price, the stunning features, impeccable design, and historical significance of the mansion surely promise its new owners a slice of luxury living. Will they host U.S. presidents and foreign dignitaries next? Only time will tell!

Whatever the case may be, the story of Castello Montebello is a delightful reminder of how vibrant and unpredictable the world of real estate can be!