Ziegler Farm, a 52-acre stretch of undeveloped waterfront land in Darien, was sold for $57.5 million.
The sale, which was first reported in the Wall Street Journal, marked a deep discount for the property, which was listed last year at $85 million. The buyer was not publicly identified and the sellers are descendants of William Ziegler, an industrialist who co-founded Royal Baking Powder Company and acquired the property around 1900 for a summer home.
The property has two paved roads, plus water, sewere and electric lines. The only structure on the property is an old cow barn, and zoning approvals would enable the construction of up to 14 homes.
This is the second property sale for the Ziegler family, which earlier this year received $85 million from the Town of Darien for the adjacent 60-acre parcel called Great Island.
Photo by Daniel Milstein / Sotheby’s International Realty
