May 28, 2014 at 6:47 PM ET
Katharine Hepburn’s Long Island Sound dream home, which her family used as a beachfront summer retreat for almost a century, is back on the market this week.
The Hollywood legend first dreamed of the expansive estate in 1939, according to the listing, when she bought a set of building blocks at a toy store and constructed a model. She later built it and lived there until her 2003 death at the estate.
The original home at the site was destroyed in a September 1938 hurricane, and Hepburn rebuilt the brick home as it now exists. Hepburn’s Oscar statuette for the 1934 Best Actress award was among the possessions lost in the storm, but it was later recovered.
The home at 10 Mohegan Ave. in Old Saybrook, Connecticut, has been completely renovated by its current owner, New York builder Frank Sciame. The restored six-bedroom, eight-bath home has seven original pine-paneled fireplaces, oversized windows, built-in cabinetry and an updated kitchen.
The Hamptons are less than an hour away by boat, and Howard Hughes once landed his seaplane in front of the home, which is situated where Long Island Sound meets the Connecticut River in the community of Fenwick.
Sciame and his wife bought the home in 2004 for $6 million and tried to sell it several times, at one point listing the home and two adjacent lots for $28 million. The new listing by William Pitt Sotheby’s International Realty includes only the historic Hepburn family home and a 1.5-acre lot. Instead of selling the two adjacent lots, Sciame is building a beach house for his family on one of them, and another home on the third lot.
If the $14.8 million asking price proves successful, a future buyer could expect a monthly mortgage payment of about $56,200.
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