Housing
This section of the BDN aims to help readers understand Maine’s housing crisis, the volatile real estate market and the public policy behind them. Read more Housing coverage here.
This seven-bedroom, eight-bathroom estate for sale in Cape Elizabeth, which sits within view of five lighthouses, is the most expensive property for sale in Maine.
With nearly 7,400 square feet of living space, the sprawling home is stationed on the rocky coast of Staples Cove, giving the 2.4-acre property direct waterfront access. Both Cape Elizabeth West Lighthouse and Cape Elizabeth East Lighthouse sit just behind the home, and Portland Head Light is just up the coast.
“The house is remarkable — like something you would only see in a movie,” said Sam Michaud of Legacy Properties Sotheby’s International Realty, the listing agent for the home. “Once you step foot in the property, it takes your breath away. There’s nothing like it.”
With an asking price of $16.5 million, the estate is the most expensive single-family home on the market in Maine as of June 16.
“If this were located in Martha’s Vineyard or Nantucket it would be valued at $40 million,” Michaud said. “This is perhaps the finest residence to ever hit the southern Maine market.”
If the home is bought at its asking price, it would be the 11th in Maine to sell for more than $10 million, according to Michaud.
It would be more expensive than the five-bedroom, eight-bathroom home down the road once owned by actress Bette Davis, which sold last year for $13.4 million. But it wouldn’t top the estate on Mount Desert Island previously owned by billionaire David Rockefeller, which sold in 2008 for $19 million, giving it the record for the most expensive home sold in Maine.
“A property like this hardly ever hits the Maine market and when they do, there’s usually quite a bit of interest,” Michaud said.
The home on Cunner Lane is full of high-end appliances, luxury finishes and sweeping views of the ocean. The property also sits on a gated road, making it exceptionally private, according to Michaud.
“Very well-known and important” prospective buyers from across the country — including Florida, Massachusetts, California and Connecticut — have shown interest in the estate since it hit the market on May 1, Michaud said.
Michaud anticipates someone from Florida will buy the home and use it as a seasonal getaway for their family.
Michaud declined to name the seller for privacy and security reasons, but municipal tax records show the property belongs to David D. Smith, executive chairman of media company Sinclair Broadcast Group.
The classic New England-style home was designed by Yarmouth architect Joe Waltman and constructed in 2016 by Portland-based Wright-Ryan.
It has changed hands a few times since then, but used lightly as a seasonal property, though it can be lived in year-round.
“This property is used maybe a few weeks a year,” Michaud said. “When you walk in, it feels like it was just completed yesterday.”