Wall Street Journal Exclusive – Four Chimneys

A Massive Estate in Pennsylvania’s Bucks County Asks $14.5 Million

The roughly 17,900-square-foot estate on 44 acres would set a record if it sells for that price

By Sarah Paynter | April 7, 2023 1:45 pm ET

A home in Pennsylvania’s Bucks County is aiming for a local record with an asking price of $14.5 million, said Cary Simons of Kurfiss Sotheby’s International Realty, who is marketing the property with New York agent Stan Ponte.

The seven-bedroom, roughly 17,900-square-foot estate sits on about 44 acres, said Mr. Ponte. Prices in the popular vacation destination, located between New York and Philadelphia, typically top out around $8 million, said Ms. Simons. 

The sellers are financial adviser Steven Grabowski and his wife, children’s book author Cheryl Olsten, who raised their three children nearby, Mr. Grabowski said. In 1997, they purchased the land in Solebury, Penn., with a neighbor to protect it from development, paying a combined $600,000, said Mr. Grabowski. When their children were grown, he said, Mr. Grabowski and Ms. Olsten bought out their neighbor and built a new home, completing it in 2008. Mr. Grabowski declined to disclose the cost of construction, but said building the estate—which includes a guest apartment and an orangery—took about three years.

Designed by Virginia-based architect Allan Greenberg, the main house has an indoor heated saltwater pool, where Ms. Olsten said she likes to take daily swims. It also contains a wine cellar, a billiards room and a sunroom, said Ms. Simons. 

The couple used the orangery, a detached structure with vaulted cathedral ceilings, for hosting events, said Ms. Olsten, author of “Big Wishes for Little Feat.” The grounds also include an outdoor pool, landscaped gardens and a pond.

The couple is selling because they are downsizing, but intend to stay in the area. Mr. Graboswki and Ms. Olsten, whose father founded the employment company Olsten Corp., are in the process of rehabilitating the Stockton Inn in Stockton, N.J., and they plan to reopen the Stockton Market, an indoor market that temporarily closed last year, as a cafe, bakery and store.  

According to Ms. Simons, the price of the estate is warranted by its location, acreage and design.

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