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October 13, 2011

Priciest Baltimore-area home sale in August: $9.5 million

ButlerRdFallsRd.JPG

Photo of Butler Road near Falls Road by Tenney Mason of Patuxent Publishing

 

Here's an eye-popping stat to start your day: A Baltimore County property sold for $9.5 million in August, by far the region's most expensive sale of the month.

It's not an all-time record -- author Tom Clancy spent $12.6 million in 2009 on a huge Ritz-Carlton Residences penthouse that was originally three separate units. (Clancy went on to purchase three more condos at the Ritz to round it out to six.)

But $9.5 million is still really unusual for the region.

The property, on Butler Road where Reisterstown and Sparks Glencoe meet, is more than 100 acres with a four-bedroom, seven-bathroom house. The listing says 144 acres; the property records suggest 108. A few more details here, including an aerial view. (The photo above is in the general area.)

The buyer was Michael Lund Petersen, presumably the same Michael Lund Petersen who bought a condo for $2.7 million in 2008 ... at the Ritz. Small world.

I called jewelry company Pandora yesterday to see if this is also the same Michael Lund Petersen identified in past years as the company's president -- and one of the selling shareholders when Pandora went public last year -- but did not hear back. Pandora is best known for its high-end charm bracelets.

All told, 20 properties in the Baltimore region -- the city and its five surrounding counties -- sold for at least $1 million in August. 

Posted by Jamie Smith Hopkins at 6:00 AM | | Comments (1)
Categories: Housing stats, Priciest home of the month
        

Comments

Michael Lund Petersen purchased this house for $9 and half million. He owned Pandora (the bracelet company) before they went public in 2010.

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
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