Nathaniel Ingraham House Returns at $14 Million After $7.4 Million Auction Sale
Updated
Updated · The Post and Courier · May 29
Nathaniel Ingraham House Returns at $14 Million After $7.4 Million Auction Sale
1 articles · Updated · The Post and Courier · May 29
$14 million is the new asking price for Charleston's Nathaniel Ingraham House, which re-entered the market May 26 just two months after closing from a $7.4 million auction sale.
Fresh paint, refinished floors, new HVAC units and updated staging were added after buyer Kleanthis Dean Haldopoulous took over in March, aiming to make the 7,748-square-foot home more turnkey.
The January auction stunned Charleston's luxury market because the property sold only slightly above its $6.25 million reserve and far below its original $17.9 million listing; the buyer had expected bidding to reach $9 million to $10 million.
That reset comes as Charleston's high-end market remains firm: downtown prices have climbed to about $1,600 to $1,900 per square foot, and first-quarter sales of $2 million homes rose to 53 from 32 a year earlier.
Was a mansion's $7.4M auction a market failure or a buyer's brilliant play before its $14M relisting?
Why do luxury auctions, designed to maximize price, sometimes produce shockingly low sales for trophy homes?
What strict city rules make owning a historic Charleston mansion a more complex investment than its price suggests?