May 23, 2018

New York City Developer Sells First Building Lot on Foxboro Point Site for $1,125,000

Close up of the construction of the new house on Lot 1

Close up of the construction of the new house on Lot 1

Prominent New York City New York City developer, Frank J. Sciame, Jr., has sold the first lot on his 11.4 acre development site at Foxboro Point in Essex.  The lot is on the last significant, large open space on the waterfront in Essex. The price paid for this Lot 1 was $1,125,000 for the land alone. The cost of a house at 19 River View Street will be additional.

Construction site at Lot 1, which cost $1,125,000 for the land alone

Construction site at Lot 1, which cost $1,125,000 for the land alone

Developer Sciame said in a statement, “We are pleased with the sale of our first lot at the Foxboro Point development site. It substantiates our belief that our development on the Essex waterfront will be a great success.”

Sciame’s Foxboro Point development property consists of eight building lots, which curve around Foxboro Point, facing the waters of North Cove. The centerpiece of the development is the Croft Mansion. Among the other lots is for sale is the one that contains Foxboro Point’s iconic windmill.

The iconic windmill on the site will be built with new living quarters

The iconic windmill on the site will be built with new living quarters

Work Going Forward on Other Parcels

In addition to the sale of Lot 1, which is located at the far right end of the development site facing North Cove, the developer is offering Lot 2 as a package consisting of a “build-to-suit” house and the grounds around it. The estimated sale price is $3,000,000 for the house and grounds at 21 River View Street.

The “New Insides” of the Croft Mansion

Developer Sciame has also embarked on a total renovation of the Croft Mansion, which has largest lot in the development with 1.5 acres. The renovations of Croft Mansion will include a new, open floor plan featuring a new open kitchen and open living and dining areas as well. In addition, the grand staircase of the mansion will be enlarged to permit sun light to filter down from the third floor to the first floor.

The Croft Mansion, the center piece of the new development on Foxboro Point

The Croft Mansion, the center piece of the new development on Foxboro Point

Other renovations will include: 1) the installation of new mechanical systems, 2) new windows throughout, 3) new bathrooms, and 4) a new state of the art kitchen with all new appliances. The asking price for the renovated Croft Mansion and the land, which has sweeping views of the waters of North Cove, will be in the neighborhood of $3,500,000.

In addition, there is an option of adding an additional building lot that would accommodate a swimming pool, which would raise the price to $4,900,000.

Finally, Sciame’s plans for Foxboro Point will include putting the Windmill site up for sale. The developer says that the site is large enough to accommodate a livable residence. Sciame asking price for both the windmill and its grounds is $1,950,000.

During the lengthy approval process before the Essex Planning Commission, many Essex residents expressed their approval of the new development at Foxboro Point, noting that it would add new real estate taxes to the Town of Essex.

However, one Essex resident, William Reichenbach, who lives on New City Street in Essex, charged that the Commission had neglected the town’s own open space and public access regulations in approving the application. The Commission did not accept this argument.

There was also a brief discussion by the Commission about requiring the developer to build a pedestrian path, running from Foxboro Road down to the waters of North Cove. However, a view easement was approved from the road to the water instead.

State’s Open Meetings Law Violated

The vote by Planning Commission members to approve the project was by a secret ballot, which appeared to violate the state’s Open Meeting Law. However, an objection to the secret vote was not made in a timely manner, so the vote was valid.

In a concluding statement developer Sciame noted, “There is a border along the waters of North Cove, as well as a view easement to protect water views. Together, these protected lands occupy 3.63 acres, or 30% of the [development] property.”

Share