PASADENA, Md. (AP) – Interested in buying a glass house? You have a few more weeks to scrounge up some funds.
The Pasadena glass house built by the late developer Leroy Merritt will go on auction on June 3. The 9,700-square-foot house overlooks the Magothy River at Sillery Bay.
The home, built more than 20 years ago on a small hill overlooking the Magothy River, Broad Creek and Sillery Bay, was scheduled to be auctioned off Friday. However, the sale was moved to June 3 to give potential buyers more time to study the 3.51-acre property at 435 Ginn Lane in Pasadena, said Laura Brady, vice president of marketing at New York-based Concierge Auctions, which is handling the auction. The extension also will allow more potential bidders to get involved, she said.
“We had a number of bidders that were going to be bidding today, but a couple of them wanted more time to conduct due diligence on the property, as well as another property we’re auctioning (June 3) in St. Michaels,” Brady said.
“The extension is just so we can allow bidders time to become more comfortable with the property. We have a good amount of attention on this house and a lot of interest.”
Former owner Leroy Merritt, a developer, philanthropist and founder of Merritt Athletic Clubs, died in January 2010.
A previous listing of the property with an asking price of $7.9 million did not attract any buyers, so Merritt’s estate is now attempting to auction off the property.
More than 200 people attended open houses at the glimmering, four-story home over the last four weeks.
The 9,700-square-foot structure sits at the end of a gated drive, complete with floor-to-ceiling glass walls, a sunken living room, marble floors and high ceilings. It has four bedrooms, four bathrooms and two half-bathrooms.
Outside, there’s a caretaker’s cottage, volleyball court, putting green and swimming pool. The property also has a pier and private beach.
Concierge Auctions listed a suggested opening bid of $3.5 million.
“This remarkable home defines contemporary luxury living at its finest,” said Betsy Stettinius, a listing agent for Coldwell Banker Residential Brokerage, who is working in cooperation with Concierge Auctions on the sale.
“It’s completely secluded, yet offers unrivaled river views from nearly every room thanks to the use of floor-to-ceiling glass as the home’s principle structure.”
The June 3 auction will take place at 11 a.m., the same time Concierge Auctions is auctioning off an 11,000-square-foot waterfront home in St. Michaels. Sans Souci Preserve sits on 22.8 acres along Harris Creek.
That house has five bedrooms, four bathrooms and one half-bathroom. The property previously was listed for $2.9 million but, like the glass house in Pasadena, didn’t attract any buyers. The suggested opening bid for Sans Souci Preserve is $1.5 million.
Information from: The Capital of Annapolis, Md., http://www.hometownannapolis.com/
(Copyright 2011 by The Associated Press. All Rights Reserved.)