Brookline Property Next To Reebok Estate Sells For $18M

BROOKLINE, MA — For the past 20 years the 14 acre Reebok property held the distinction of being among the state's most expensive estates for sale. This summer it was split into two parcels and a real estate investment company bought the mansion and a developer got the 7 acres next door.

Now, the developer is planning to build five new homes on the property, the Boston Business Journal reported first.

Reebok founder Paul Fireman's eight-bedroom estate in Chestnut Hill set on 14 acres gave the air of a Hogwarts-like campus, when he listed it on realtor.com. It hit the market in 2016 with a $90 million asking price. That dropped to $69 million in 2018 and to $38 million in February 2019. Then this year it dropped again to $33 million, but still maintained the honor of being the most expensive home in the state.

When Brookline, fearing increased enrollment, was searching for a location for a ninth elementary school, some residents pointed to Woodland Manor as a possibility. It didn't pan out.

Then, earlier this year the property was split between the acres and the manor. And this August, the home finally sold for $23 million and the property went for $18 million.

Twin Focus Capital purchased the home at 150 Woodland for $23 million “on behalf of a real estate investment company” it advises, a representative told the Boston Business Journal.

Cindy Stumpo of Newton’s C. Stumpo Development acquired the property next to the Woodland Road Manor and is planning to build five homes there, according to the BBJ.

Read the full Boston Business Journal article.

More about the property from Patch partner realtor.com:

• Address: 150 Woodland Rd, Brookline, Massachusetts
• Price: $23M
• Square Feet: 26,623
• Bedrooms: 8
• Bathrooms: 7 Full and 5 Half Baths
• Built: 1999
• Features: Landscape and architecture blend to spectacular effect at this modern-day masterpiece featuring a level of design, quality and amenities that is surpassed only by the stunning natural beauty of the surrounding landscape. Built in 1999 with every luxury in mind, this 8-bedroom home by world-renowned architects Shope Reno Wharton is a one-of-a- kind masterwork situated on 7+ gated acres just 5 miles from the center of Boston. Prized for its stately presence and sparkling limestone exterior, the majestic home captures the best of traditional architecture while integrating beautifully-scaled, light-filled interiors that delight the eye at every turn. Only the finest materials were employed throughout the home's nearly 27, 000 square feet of elegant living space and the result is a tour-de-force that mixes the best of classic architecture with comfortable modern spaces perfectly suited to the way we live today. This illustrious estate represents one of the Northeast's most spectacular homes.

This listing originally appeared on realtor.com. For more information and photos, click here.