King Point estate, LI’s most expensive listing, gets price cut

Long Island’s most expensive listing has been put on the market with a new agency and a $15 million price cut.

The 8-acre Kings Point estate had been listed last fall for $100 million with Diane Polland of Coldwell Banker Previews. With a combined 60,000 square feet of living space, the property features a stone mansion built in 1928, as well as two guesthouses, multiple indoor and outdoor pools, replicas of fountains found in a Russian palace and a casino.

“They’re looking to get more aggressive to find a proper buyer,” says Emmett Laffey, chief executive officer of Laffey International Realty, where the property is being listed for $85 million with Paul Tyree and Mary Stanco.

The mansion is finished with lapis, agate and onyx carved by European craftsmen, as well as a ballroom, a racquetball court, fitness studios, saunas and Turkish baths. The property also features a 200-foot dock on Long Island Sound and views of the Manhattan skyline.

Laffey says the investment in the home is the largest he’s ever seen and justifies the high price.

“The inlaid marble alone is probably several million dollars,” Laffey says. “This is just something that’s in its own league.”

The property was once owned by Tamir Sapir, a businessman from the Soviet Union who invested heavily in New York real estate. He died in 2014. The home, purchased by the current owners for $15.85 million in 2013, according to public records, is part of a large real estate portfolio.