Westcliffe Final Presentation

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T H E K N O W L E S C O M P A N Y P R E S E N T S<br />

W E S T C L I F F E<br />

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P R E S E N T A T I O N<br />






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Comparative Market Analysis:<br />

<strong>Westcliffe</strong>, Mount Desert, Maine<br />

Pricing Rationale and Market Positioning:<br />

Formulating the correct asking price is one of the most essential aspects of listing and<br />

marketing a property. Our carefully prepared Comparative Market Analysis (CMA), identifies<br />

relatively comparable, previously sold properties and evaluates current competition. Due to<br />

the unique stature of <strong>Westcliffe</strong>, truly comparable properties are scarce, compelling us to<br />

examine sales within the past ten years or more. From the outset <strong>Westcliffe</strong> stands apart<br />

from the current competition due to its exceptional features, acreage, location, and setting.<br />

Subject Property:<br />

<strong>Westcliffe</strong> is 6.35 +/- acres with 968 +/- feet of shore frontage. There are two principal,<br />

architecturally-designed structures on premise: The Main House, The Guest Cottage. All<br />

total there is 9,275 square feet of living space at 7,291 and 1,984 respectfully. Both are yearround,<br />

in excellent shape with distinctive classical shingle-style design and comfort. The<br />

grounds are rustic with subtle professional landscaping in a natural environmentally<br />

sustainable style. There are walking paths along the rocky shoreline and dock, with nearly<br />

unlimited 180-degree views across Somes Sound from the North to the South, including<br />

stunning views of Acadia National Park’s Eastern Mountains. With such connection to the<br />

land, Acadia National Park, and the sea, <strong>Westcliffe</strong> is truly a remarkable property.<br />

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R E S E A R C H .<br />

In our research for this CMA, we examined numerous sold properties within New<br />

England as well as on Mount Desert Island. We are highlighting several of those sold<br />

properties to compare to <strong>Westcliffe</strong> as they are all on Mount Desert Island. The sales<br />

price and property details of all shorefront offerings were considered. In our analysis<br />

we compared and adjusted the properties respective location, acreage, sale date, days<br />

on the market, and square footage relative to <strong>Westcliffe</strong>. These calculations assisted<br />

us in determining the appropriate market range. Additional factors taken into<br />

consideration are town zoning ordinances and any deed restrictions and covenants.<br />

The first property<br />

is Oversea, located at 29 Dodge Point Road, Seal Harbor, with a<br />

Main Cottage and 2 guest cottages for a total of 5,311 +/- square feet, resting on<br />

6.35+/- acres, and 569 +/- feet of shorefront facing the Great Harbor and outer<br />

islands. This was listed at $9,500,000 in September of 2018 and went under contract<br />

immediately. The property sold December 19, 2018 for $9,250,000.<br />

The second property<br />

is Faraway located on the Eastern Point of Greening Island, with<br />

a Main House with 7,100+/- square feet, and 2 -bedroom guest cottages on 4.40+/-<br />

acres and a deep-water dock on 1,500 +/- feet shorefront covering views from<br />

Southwest Harbor to the Eastern Way to Somes Sound. This was listed at $6,500,000<br />

in late 2019 and closed in September of 2021 at $6,625,000.<br />

The third property<br />

is Cow Cove located in Northeast Harbor at 79 Peabody Drive,<br />

with 6.1+/- acres, and a deep-water dock on 1,480 +/- feet of shorefront on the east<br />

side of Northeast Harbor. This c.1904 Classic Shingle style summer cottage has a<br />

main house with approximately 7,128 +/- square feet with 8 bedrooms and 5 full<br />

baths and has a guest cabin with 2 bedrooms and 1 full bath. The original asking price<br />

in February of 2020 was $8,300,000. It sold on January 20, 2022 for $6,850,000.<br />

The highest sale for 2022 was Wynnestay located at 125 Peabody Drive, with 1.51+/-<br />

acres and a deep-water dock on 243+/- +feet of shorefront overlooking the Western<br />

Way and outer islands of the Great Harbor. This modern 5-bedroom and 7-bath<br />

cottage was built in 2006 with state-of-the-art year around systems, meticulous<br />

details and materials on the interior, balanced with native landscaping around granite<br />

terraces resting high above the shorefront.The property was listed at $11,600,000 in<br />

June of 2022, and sold in September for $10,600,000.

Currently there are 10 properties in the state of Maine on the market priced<br />

over $5,000,000 and 6 are between $8,900,000 and $11,200,000. By narrowing<br />

the field to just Mount Desert Island, over $5,000,000, there are 2 waterfront<br />

properties on the market, the highest being $11,200,000 (Bar Harbor) serving as<br />

testament to the very limited market inventory of our uniquely situated and<br />

much desired area.<br />

Wanakiwin Links:<br />

Wanakiwin Drone<br />

<strong>Presentation</strong><br />

Wanakiwin<br />

Brochure<br />

The high-end, luxury real estate market in the country over the past few years<br />

since the pandemic gained tremendous momentum and prices exceeded<br />

expectations due to limited inventory as well as robust cash positions for Buyers<br />

wanting to invest stock market earnings in real estate. The New England<br />

shorefront market of Nantucket, Cape Cod, and Martha’s Vineyard had 20 sales<br />

over between $8 million and $12 million since 2022. The North Shore areas had<br />

4 sales over $5 million since 2022 with a high of $11,500,000 in Manchester<br />

which closed in December.<br />

It should be noted however that the buyer for <strong>Westcliffe</strong> will most likely tour<br />

properties all along the eastern seaboard. Familiarity with competing offerings<br />

guides us as to market outlook.<br />

Looking back on Mount Desert Island since 2018, the overall market to date has<br />

been strong for waterfront properties over $5 million with 8 sales over $5 million<br />

(total volume of $69 million+/-), including 7 sales between $5 million and $10.6<br />

million, with an average closed price of $8,643,000. Gains in the global stock<br />

market, influences of the Pandemic and limited residential inventory coming on<br />

the market on Mount Desert Island, were major factors for the increased price<br />

volume, and lower number of sales in this elite category.<br />

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M A R K E T P O S I T I O N .<br />

Here, we have traditionally seen the market move in 18-month cycles. This market<br />

fluctuation has been typical over the past decade and is based on current inventory, interest<br />

and activity in the high-end market along the eastern coast and the lower market sectors<br />

here on Mount Desert Island. This pattern may continue to evolve with global issues as we<br />

have seen in 2022.<br />

Upon moving forward with the listing, we also may offer a few suggestions to enhance the<br />

property in its current state. All of these will add to a pristine presentation and a clear view of<br />

all <strong>Westcliffe</strong> has to offer.While we have an initial portfolio of aerial photos in hand from<br />

recent site visits, we will have additional photo and video sessions to maximize our portfolio<br />

to best present the property over time.<br />

After analysis of these properties, their unique characteristics, the resulting transactions and<br />

the current state of the real estate market, we recommend a price range between<br />

$8,500,000 and $10,500,000. <strong>Final</strong> Price determination should be reviewed again when<br />

closer to the launch of marketing, taking into consideration global and regional market<br />

changes that may be critical factors to consider.<br />

As mentioned above, there are alternate strategies for offering the property. We would<br />

recommend that we meet to discuss all of your possible scenarios and objectives before<br />

resting on a final plan and price. It is not always the highest asking price that yields the best<br />

result of a sale, especially to maximize family objectives from a sale. Just as there are many<br />

buyers with unique needs and wants, there are sellers with similar objectives, hopes and<br />

wishes. Our experience has led us to understand these dynamics and how important it is to<br />

work with the seller to determine the best course of action at the present time.<br />

Once these goals are clearly defined, it is critical to place <strong>Westcliffe</strong> in the strongest possible<br />

position against existing national competition, as well as at the top of the list of properties<br />

most likely to attract the interest of an elite buyer. Pricing the property correctly is but one<br />

critical step in successful marketing. A strong brokerage team must execute a robust<br />

marketing plan to take advantage of a correctly priced offering. We will then put into action<br />

our Marketing Plan and vast company resources to set the stage to reach a global market,<br />

while also focusing on former clients, family, friends, and social venues to deliver the right<br />

buyer and reach a successful sale.<br />

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Now with more than 16 years of experience in real estate, Lili brings strong business expertise,<br />

dedicated professionalism, and great enthusiasm for our local area to bear in all her realty<br />

transactions.<br />

Lili grew up in Bryn Mawr, PA and graduated from Harvard College in 1985 with a BS in<br />

Psychology. Her family has summered at their family cottage “Inchcape” in Northeast Harbor<br />

since the early 1900s, and has been dedicated members of the community for more than a<br />

century. She followed-up a successful corporate career with the U.S. Olympic Committee in<br />

Colorado and The Narragansett Group in New York by moving to Maine full-time in 2001.<br />

Currently Lili is on board of:<br />

Maine Community Foundation<br />

Friends of Acadia, (Chairman 2007-2011)<br />

Harbor Club Board of Governors<br />

MDI Search and Rescue<br />

Lili Pew joined the Knowles real estate team in 2007 and has<br />

consistently been a top producer in the Mount Desert Island area<br />

while serving a wide range of national and international clientele. In<br />

recent years, she has closed a record number of sales for both<br />

Buyers and Sellers. Lili consistently goes above and beyond for her<br />

clients both during and after a sale.<br />

B a c k g r o u n d<br />

For Acadia’s 2016 Centennial, she served on the Acadia Centennial Steering Committee,<br />

Centennial Carriage Drive and Rockefeller Carriage Road Celebration, and co-chaired Major<br />

Gifts for FOA Second Century Campaign that raised $25 million.<br />

She is leading economic development and broadband initiatives in the towns of Mount Desert,<br />

Ellsworth, and The Cranberry Isles as part of her continuing efforts to secure a strong and<br />

vibrant future for current and future generations in our communities.<br />

Lili has also been a board member of:<br />

College of the Atlantic<br />

Summer Residents Association Board (SRA) (President 2017-2019)<br />

Ellsworth Business Development Corporation<br />

The New York Women’s Foundation<br />

Secretary of the Interior’s Steering Committee America’s Voice for Conservation,<br />

Recreation and Preservation<br />

Down East YMCA<br />

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Mount Desert<br />

Trenton<br />

Tremont<br />

Windiana- Sun filled lakeside cottage in a<br />

private setting. Southerly views of the ANP<br />

mountains. Semi-detached Guest Cottage<br />

with space for two additional guests. A<br />

path leads to a deck at the water’s edge.<br />

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The Starr House- Less than a 20 minute drive<br />

to Acadia National Park. Exquisite views of<br />

the surrounding island and distant mountains<br />

from every window. Spacious deck and<br />

recently renovated kitchen.<br />

Puffins Perch- Secluded location on the<br />

“Quite side” of Mount Desert Island. Open<br />

floor plan layout and comfortable<br />

furnishings capable of accommodating up to<br />

10 guests with deeded access to the shore.<br />

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R E C E N T K N O W L E S C L O S I N G S<br />

42 Jordan Pond Mt Desert $580,000 Lili Pew Selling Member<br />

17 Folkstone Drive Bar Harbor $562,500 Beth Ingebritson Selling Member<br />

47 Point Lane Tremont $1,450,000 Hallock/Ingebritson Listing/Selling Members<br />

14 Freeman Ridge SH $480,000 Sue Ferrante-Collier Selling Member<br />

42 Grand View Ellsworth $345,000 Kristi Jacoby Listing Member<br />


Distinctive Properties. Legendary Service.<br />

Bar Harbor<br />

$430,000<br />

ACTIVE<br />

Located at the end of a quiet lane, this 3-bedroom cottage offers<br />

4 floors of living space .Property looks out onto 2+/- acres of<br />

gardens filled with perennials. Close Bar Harbor amenities.<br />

MLS# 1551799 Susan Ferrante-CollierAssociate Broker<br />

(207) 266-9424<br />

Northeast Harbor<br />

$500,000<br />

Located in the village of Northeast Harbor this .62+/- acre lot is<br />

close to all amenities. Public water and sewer. Surveyed.<br />

MLS#1537012 Lili Pew Associate Broker (207)276-3322<br />

ext.238.<br />

Great Cranberry Island<br />

$225,000<br />

SOLD<br />

SOLD<br />

Bright and sunny 2-bedroom, 1-bath home on Great Cranberry<br />

Island. .26 +/- acres, covered porch, spacious kitchen. Subject to<br />

very reasonable version of the CIRT covenants.<br />

MLS#1506789 Nick Burnett Associate Broker (207) 460-5121<br />

Seal Harbor<br />

$2,200,000<br />

ACTIVE<br />

Exceptional shingle-style, year-round home. Property overlooks<br />

Seal Harbor Beach. Mainesail features quality of craftsmanship<br />

throughout. Large windows allow for bright rooms. Private deck<br />

and hillside garden. Close to Acadia National Park trails.<br />

MLS#1544373 Beth Ingebritson Broker (207) 266-7225<br />

Swans Island<br />

$1,325,000<br />

SOLD<br />

Mosaic of rocks. 4000' of Maine Coastline. Popplestone (large<br />

pebble) beaches, Open ocean views. Private 106+/- acre parcel.<br />

Road in place.<br />

MLS#1497908 Beth Ingebritson Broker (207).266-7225<br />

Bar Harbor<br />

$750,000<br />

ACTIVE<br />

Ideal retreat set high up overlooking Frenchman's Bay. This<br />

compact chalet style 2-bedroom, 2-bath home is moments from<br />

the village, the head of the island and access to Acadia.<br />

MLS#1549573 Tricia Blythe Broker (207) 664-3500<br />

Ellsworth<br />

$345,000<br />

SOLD<br />

Located in a quiet neighborhood this charming, well maintained,<br />

three-bedroom, two full bath ranch home on 1.15+/- acres<br />

features Beautiful perennial gardens in the fronty ard and a<br />

backyard bordered by mature trees with an open deck<br />

MLS#1547086 Kristi Jacoby Associate Broker (207) 266-0212<br />

West Tremont<br />

$1,400,000<br />

"Cove Ledge" is perched on a grassy knoll that follows a field of<br />

lupines to accessible deep-water shorefront. This 2-bed, 2-bath<br />

Cape-style home on 4.5 +/- acres, with 408+/- ft. of shore<br />

offers distant view of Placentia, Black and Gotts Islands.<br />

MLS#1529773 Torie Hallock Associate Broker<br />

(207) 276-3322 ext. 225<br />

Bar Harbor<br />

$695,000<br />

ACTIVE<br />

ACTIVE<br />

The Ovens are geological sea caves carved by the ocean.<br />

Accessed by an impressive, gated staircase from the property, a<br />

short stroll down leads to one of the ovens, known as Cathedral<br />

Rock. The 1.33 +/- acres features a private fine stone beach.<br />

MLS#1538684 Kristi Jacoby Associate Broker (207) 266-0212<br />

Great Cranberry Island<br />

$725,000<br />

SOLD<br />

Off a beaten path this 3-bedroom home on shores of "The<br />

Pool",offers a deck to the water and a covered porch to the<br />

gardens. Cranberry Shores epitomizes island living set on 5+/-<br />

acres. A long history of artists created a studio on the shore.<br />

MLS#1533431 Torie Hallock Associate Broker (207) 276-3322<br />

ext. 225<br />

Bar Harbor<br />

SOLD<br />

$841,000<br />

3-bed, 2.5 bath recently renovated home added 500+ ft living<br />

area. Sun room, finished basement,. heat pumps, propane<br />

fireplace and solar. 5.8+- acres abuts conservation.<br />

MLS#1546968 Tricia Blythe Broker (207) 276-3322 ext. 237<br />

Bar Harbor<br />

$425,000<br />

ACTIVE<br />

36+/- private acres punctuated with old growth oak trees.<br />

Property has been soils tested and is located off a private wellconstructed<br />

road. Protective covenants in place.<br />

MLS#1462498 Jane McCombs-Beaman Broker<br />

(207) 276-3322 ext. 243<br />

Northeast Harbor<br />

$1,740,000<br />

SOLD<br />

Located in a beautiful, private setting on the outskirts of Northeast<br />

Harbor, Asticou Acres is a wonderful estate property offering a<br />

large, shingled home with distant ocean views from the upper<br />

floors, two barns and a lovely grounds bordering Acadia National<br />

Park.<br />

MLS#1538684 Mia Thompson Broker (207) 276-3322 ext. 228<br />


F E A T U R E D R E N T A L S O F T H E W E E K<br />



Island Sky: A charming cottage perched just off Mount Desert Island in<br />

Trenton, this home has it all. Two decks to choose from, a spacious and<br />

comfortable living room with sweeping water views and the mountains<br />

of Acadia in the distance.<br />

RENTAL AGENT (207) 276-3322 ext. 239<br />

Acadia Lodge: Offering stunning views of Somes Sound from nearly<br />

every room, find serenity and calm on the wrap around deck or relax<br />

below at water's edge.<br />

RENTAL AGENT (207) 266-0212 ext. 239<br />

Kebo Cottage: A jewel of a house that gives you plenty of space when<br />

vacationing with friends or family, close to Bar Harbor village!<br />

RENTAL AGENT (207)276-3322 ext. 239<br />

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