Rich cribs: Equestrian center changes hands

The Old Westbury Equestrian Center recently sold for $9 million.

The property and manor home on the property were built around 1916 as a polo estate by the architectural firm of Peabody, Wilson and Brown. The original owner, Devereux Milburn, was an internationally known polo player.

"It's truly magnificent," says listing associate broker Lois Kirschenbaum of Daniel Gale Sotheby's International Realty. "It's a property beloved by the community. We are delighted the people who bought it will keep it as an equestrian center."

The selling agent was Joan Gordon of Douglas Elliman Real Estate.

With access to 600 acres of riding trails in Brookville and Old Westbury, including ones on the campus of State University of New York at Old Westbury, the property on Store Hill Road -- almost 28 acres -- is residential with a special permit to conduct business as an equestrian center, Kirschenbaum says. It has a 48-stall barn, which includes original stalls, as well as those added later from Loddon of England. The addition looks authentic, Kirschenbaum says.

The landscape also includes paddocks and an indoor arena with a skybox lounge that was built about 15 years ago. The arena adds value, Kirschenbaum says, noting it provides the opportunity to ride, train and show horses year-round.

At some point, the manor home was reduced in size by about half because the owner at the time thought it was too big, Kirschenbaum says. Today it has six bedrooms, five bathrooms and a half-bath, as well as five fireplaces. A four-bedroom cottage also is on the property.

The original asking price was $15 million.