Hedge fund manager Andrew Barroway lost around $25 million on the sale of his lavish mansion in Gladwyne. His investment in constructing it was an estimated $35 million, reported Katherine Clarke for Mansion Global.
The sprawling estate sold in August for $9.26 million, according to Montgomery County property records.
The new owner is listed as Gladwyne RHT, which is a pass-through company linked to Thaddeus Bartkowski, a digital advertising executive.
Barroway purchased the 32-acre parcel in 2006 for $12 million. He spent three years and roughly another $23 million building the 13,000-square-foot Gothic Revival-style residence.
The six-bedroom, nine-bathroom home also features a movie theater, tennis court, a wine cellar, and an indoor swimming pool, as well as a seven-car garage.
The sale marked the culmination of a years-long drop in market value for the property. The house was originally listed in 2016 for $28 million. With no buyers coming forward, the owner tried to auction it off with a reserve price of $14.9 million in 2019. When that attempt also failed to find a buyer, the home was listed on Zillow for rent for $40,000 per month.
Read more about Andrew Barroway and the losses on his Gladwyne mansion in Mansion Global.