Former magnate’s estate for sale: $55 million
May 13, 2010 - Cohasset
By Emily Peck from The Wall Street Journal Asia
Clarence Barron purchased Wall Street Journal publisher Dow Jones & Co. in 1902 for$130,000.
His former estate in Cohasset, Mass., about 20 miles south of Boston, just hit the market for $55 million.
The buyer needn't be a budding publisher, but experience running a resort might help.
In addition to the 20,000-square-foot mansion on the approximately 9 acre property, the price tag includes the Cohasset Harbor Resort, which features an inn and two restaurants.
According to the AP, the private home accounts for about half the price tag.
Mr. Barron died in 1928 and two years later his stepdaughter Jane Barron tore down his home, building the 45-room Georgian Revival house that's now on the market.
Ms. Barron along with her husband Hugh Bankcroft inherited Mr. Barron's stake in Dow Jones, their descendants later sold the company in 2007 for $5.16 billion to News Corp.
Barron's granddaughter lived in the home until her death in 1982, according to the AP.
Yankee Oil & Gas briefly owned the estate until current owner Peter Roy, who describes himself to the AP as a former energy company owner and retired investor, scooped it up in 1989.
The home has eight bedrooms, a library, a gallery and an English-style pub in the basement.
The side yard has a giant chess board with two-foot-tall stone pieces, a pool, a stone pool house and six built-in grilling stations. In the winter there is a skating pond and in the summer, a private beach.
This article has been republished from Wall Street Journal
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