Former Maine gubernatorial candidate Eliot Cutler sold his Cape Elizabeth mansion to a member of the Bush family in late December.
The sale was the most expensive statewide in 2020 and the seventh highest home sale ever recorded in Maine, the Portland Press Herald reported.
Cutler and his wife, Melanie, sold the 15,455-square-foot residence at 1172 Shore Road for $7.55 million to Jonathan Bush Jr., cousin of former President George W. Bush and founder of Boston-based athenahealth, which has an office in Belfast.
Originally listed in April 2017 for $11 million, the residence — which includes a four-bedroom guest house and private beach — dropped in price three times over the years. But it was the price drop and the privacy offered amid the onslaught of the pandemic that generated the most interest, Chris Lynch of Legacy Properties Sotheby’s International Realty told the Press Herald.
The sale came at a time when southern Maine is experiencing a real estate boom. Just 7 miles away, South Portland has been experiencing a surge, making it one of the most competitive markets to buy a home in the country.
But the Maine Association of Realtors in December reported that existing home sales, at 1,965, were up 31 percent over November, but down from the 2,341 units sold in October.
Cutler made unsuccessful bids for governor in 2010 and 2014 as an independent, losing out to Republican Paul LePage.
Correction: A previous version of this story misnamed Melanie Cutler.