Copper Beech Farm sells for $120 million in Greenwich, CT

Copper Beach Farm - 499 Indian Field Road, Greenwich, CT

Copper Beach Farm – 499 Indian Field Road,
Greenwich, CT

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Update @ 5 pm

The buyer of Copper Beech Farm is The Conservation Institute, LLC. This Connecticut LLC was formed on 4/2/14, presumably to purchase the property. The LLC is managed by Jonathan Whitcomb of Diserio Martin in Stamford as reported by the New Canaanite. The price is still a surprise to many in the community. So the identity of the Conservation Institute is still a matter of major speculation with some wondering whether this has anything to do with owner’s forestry properties in Montana.

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The Greenwich MLS just listed Cooper Beach Farm at 499 Indian Field Road as having sold $120 million. This 50 acre Greenwich waterfront property included two small islands in Long Island Sound. David Ogilvy of David Ogilvy & Associates was both the listing and the selling broker. The 12 bedroom 7/2 house was constructed in 1898 and has 13,519 s.f. of above ground living space. While a beautiful house that was renovated in 1985 it was a period piece with no central air conditioning. As a result the bedrooms with best views in the house were the servants bedroom which were directly below the roof.

The 50 acres property is in a 2 acre zone which with a 15% subdivision set aside as required in Greenwich could theoretically allow 21 lots many with direct waterfront exposure, but when roads and other amenities are added there would be fewer lots. Certainly, the future use of this property will be the talk of the town for the next week.

 

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