Hagadone Digs Discounted $20M

Duane Hagadone’s Stanley Hill home will be up for auction Sept. 8, with a minimum bid set at $7.5M. That’s a far cry from the $27.5M originally sought for the prominent house and grounds. A Berry Picker reported that the auction is advertised in Section D, Page 7A (“distinguished structures and estates”) in today’s Wall Street Journal. Here’s part of an online description from auctioneer is J.P. King (www.jpking.com), courtesy of OrangeTV: ” A Stunning Luxurious Estate with 15.25+/- Private Acres overlooking Lake Coeur d’Alene . With gorgeous views of Lake Coeur d’Alene, Hagadone Estate occupies 15.25+/- acres and provides the ultimate in privacy and a luxurious lifestyle. This premier estate if fully gated with a private drive, helipad, and acres of perfectly manicured lawns. An entertainer’s dream, the estate boasts unbelievable indoor and outdoor amenities.” Hagadone, of course, built a new mega-home on Casco Bay and has one of equal size (30,000sf) in Sun Desert. Full description and video tour of Hagadone’s Stanley Hill ex-digs here. (AP file photo, of Hagadone’s Stanley Hill house)

Question: Got $7.5M lying around?