This 10-bedroom mansion in New York was offered for only $50,000, with one catch
spotlight AP

This 10-bedroom mansion in New York was offered for only $50,000, with one catch

  • 0
{{featured_button_text}}

A 6,000-square-foot, 10-bedroom Victorian mansion could've been yours for only $50,000, but there was one catch: You had to put together a restoration proposal for the historic property in order to be considered.

Built in 1861, the mansion is in Auburn, New York, in the Finger Lakes region about 25 miles west of Syracuse.

The city of Auburn purchased the foreclosed property, and the city's Planning Department partnered with real estate agent Michael DeRosa to come up with the unique method of sale.

"This is not an auction, it's a contest," DeRosa told CNN.

James Seymour Mansion

The property has 10 bedrooms.

Prospective buyers had to state their intended use of the property, the restoration project timeline and cost, and restoration plan in order to be considered as a part of their application.

Applications closed Dec. 18 and the city will review the offers and vote on a winner. The winner will be chosen after Jan. 8, DeRosa said.

"It's not so much the buyer who offers the best price that is of importance here, it's the buyer with the best intended use and plan to restore this mansion that really matters," said DeRosa.

The property once belonged to Auburn banker James Seymour, who was known for his philanthropic efforts. He founded the Seymour Library and the Auburn City Hospital.

The mansion sits on approximately an acre of land, and it has three stories, five bathrooms and four fireplaces. A two-story carriage house is also on the property.

James Seymour Mansion

The property includes a two-story carriage house.

James Seymour Mansion

The winner will be chosen by a vote by the city.

James Seymour Mansion

A 6,000-square-foot, 10-bedroom Victorian mansion could've been yours for only $50,000.

The-CNN-Wire™ & © 2019 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

1
0
0
0
1

Sprout new ideas with our home & garden newsletter!

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Did you vow to cook at home more often in 2020? Or perhaps to cook more healthfully and sustainably? The first step is stocking your kitchen with the right ingredients and cooking tools. The second step is to have fun — gifting yourself a new kitchen gadget or buying an interesting ingredient can help spark the fire. Whether you’ve been eyeing a kitchen scale or simply need a good cutting board, set yourself up for success with some handy kitchen gear.

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Badger Sports

Breaking News

Crime

Politics