April 23, 2014
The Luxury Slump
The Wall Street Journal | (excerpt)
The brick residence, which dates from about 1830, has eight working fireplaces and original random width floors and hearthstones. Its most prominent characteristic may be its sheer size, with cavernous rooms (there is a grand ballroom on the second floor) and 13′ high ceilings. ‘Prospective buyers are captivated by the interior spaces, but some are intimidated by the idea of restoring such a significant historic property’, says Steve DiFrancesco, president of Hunter, Reed and Company in Unionville, PA …