Former du Pont estate fetches $9.1M in record sale
DEWEY BEACH — In what may be the most expensive residential property sale in Delaware history, a Dewey Beach estate was sold for $9.1 million.
Sandaway, an 82-year-old beachfront estate with two homes, a guest house and a main residence, was sold to three groups of private buyers in May, although they are not connected. The estate was built in 1939 by Alexis Felix DuPont, the former vice president and director of E.I. du Pont de Nemours & Company. Almost every room has unobstructed ocean views, according to the listing by Long and Foster.
Property records show that Jason Goldblatt, Melissa Kimmel, Andrew and Jamie Schwartzberg bought one parcel for $3.5 million; Brian Katz and Amy Rush bought another parcel for $3.5 million; and Harvey and Shari Goodman bought the third parcel for $2 million.
“It’s a very old house the du Ponts built, and it’s a combined 10,000 square feet across both buildings,” Kim Hamer, an agent with Ocean Atlantic Sotheby’s International Realty, told the Delaware Business Times. “We were able to subdivide it to three lots recently to really maximize the value.”
Sandaway, listed at 1 and 3 Cullen St., first hit the market in 2019 for $11.5 million, although the asking price was eventually lowered to $10.99 million that year, according to the Philadelphia Business Journal.
The property was owned by a limited liability company that traces back to Capano Residential Management, and representatives were not available for comment.
Hamer said the new owners of 1 and 3 Cullen St. plan on demolishing the two properties on the site. No demolition permit has been filed yet, according to Dewey Beach town officials. The buyers must also honor the 2021 summer rental season.
Sandaway is zoned neighborhood residential, which means the buyers are already permitted for a single-family detached home with a maximum of 35 feet tall per lot.