Home News Lookout Valley mansion sells for $8.7 million, becoming biggest home sale in Chattanooga history

Lookout Valley mansion sells for $8.7 million, becoming biggest home sale in Chattanooga history

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This article has been updated to correct the spelling of David Duplissey’s last name.

In the largest home sale in Chattanooga history, a Montana investor bought a riverfront home in Lookout Valley for $8.7 million.

The 17,772 square foot mansion sits on 26 acres along the Tennessee River at 502 Browns Ferry Road in Tiftonia. A 6-bedroom, 8-bathroom overlooking the Tennessee River just off Interstate 24 was sold by David and Kim Dupreecy, who built the house nine years ago.

Mansion overlooks Moccasin Bend and river, features outdoor pool, sauna, boat dock, spacious home with vaulted ceilings, custom molding, hickory floors, knotty alder woodwork, and crafted masonry Items are inside and outside. The house included a theater, an outdoor kitchen, a hunter’s exhibit room, a gas pump, and a specially decorated room and garage that displayed both Duplissey’s racing cars and hunting trophies.

David Duplissey purchased the riverside property from attorney Martin Levitt in 2011, acquired and demolished four other homes on the site, and rebuilt the gates, including a half-mile cemented driveway to the homes. He said he had secured a space in his mansion.

“It was the perfect location to build a big, beautiful house, and I really enjoyed my time there,” DuPrissie said in a telephone interview Tuesday. “I think we sold this house to someone who appreciates it, so it doesn’t disappoint me at all that we sold it.

The Montana buyer, who wished to remain anonymous, purchased the property through Lookout Below LLC, a real estate venture in Duluth, Georgia.

The buyer is the second out-of-state buyer in months to acquire a mansion overlooking the Tennessee River west of downtown Chattanooga.

in September, The Houston family, who formed a limited partnership known as SFSG Real Estate Holding LLC, purchased the late Sharon Mills’ home in Elder Mountain for $4.9 million. — All-time high for Chattanooga-area residential real estate. His 11,266-square-foot home in Mills was built by him in 1998 on his 26.5-acre lot overlooking the Tennessee River canyon.

The Mills mansion sold for $4.6 million in March after hitting the market for an initial sale price of $7 million a year ago. The owner decided against moving into the house and put it back on the market for over $200,000. The $4.6 million price he paid in March.

multi-million dollar mansion

Another waterfront property is up for sale in Chattanooga and could outpace recent sales of condominiums west of downtown.

A 23,000-square-foot home on Chickamauga Lake owned by Bernice Sale is on the market for $16.5 million. Her 2.5-acre lot on sale is located on Harrison’s Solitude Drive and is currently the highest priced home among over 30 homes for sale for over $1 million on Chattanooga Realtor’s multiple listing services.

Chattanooga’s once-rare million-dollar homes nearly doubled last year, and 2021 now includes 175 Chattanooga homes with sale prices over $1 million, according to the Greater Chattanooga Association of Realtors .

Draw National Buyers

Dupreecy says that when he first put his house on the market for $9 million, a local real estate agent said he would never get that kind of price, so he signed a deal with Sotheby’s International Realty. listed properties.

The sale took nearly three years, but in the end Duplissey was able to sell the home for nearly 97% of its original asking price.

DuPressey, now 67, said he was ready to move to a smaller lot. But Duplissey said he believes his home is worth more than the local real estate agent told him to price the property when he decided to sell it.

“No one in Chattanooga listed the house for more than $5 million. Sotheby’s brought in prospective buyers from all over the country. We may find that it sells for $1,000, so I’m glad we were able to make a sale that matched the results.”

Last month, the median price of homes sold in the Chattanooga market climbed 17.8% year-over-year to $306,625.

The Duplessy property ultimately sold for more than 28 times the price of a typical Chattanooga house, but the real estate agent responsible for the sale said the Duplessy property was unlike any other property. . Located in the city of Chattanooga, this property includes views of the meandering Tennessee River and the hills of the protected Moccasin He Bend woodland across the river.

Sandy Poe, Sotheby’s Realty’s Knoxville real estate agent who listed the property, said Duplissey’s home was “one of the finest properties in the South. We are grateful to be a part of this Chattanooga milestone.” I will,” he said.

“During the listing process we were presented with several offers and sales opportunities, but we were well aware of their value and were willing to wait for the right time and buyer to come,” she said in an e-mail. “The best way to close out Chattanooga’s record-breaking home sale is… ‘It’s been worth the wait!’

find success in chattanooga

Duplissey moved to the Chattanooga area when he acquired Trenton’s National Boiler Co. in 2006, nearly tripled equipment manufacturer sales in eight years, and transitioned from a paper mill to a utility company before selling the business in 2014. and expanded the business market to industrial boilers. Duplissey also owned Boyd’s Speedway before selling the racetrack to Chattanooga businessman Emerson Russell two years ago.

DuPrissie developed and oversaw the construction of the house after the first architect he hired for the project died and he fired the second architect who was working on the house’s design.

“It grew and grew over time, and even after ten years of living there, I was still working on something,” he quipped. need to do it.”

After the house was built in 2013, Dupreecy said he invited all the construction workers involved in the project and their families to a party at the house, and more than 350 people came to see the completed mansion. .

“I cooked 35 Boston bats and four cases of chicken and invited everyone who was involved in building the house. I hope so.”

Contact Dave Flessner at [email protected] or 423-757-6340. Follow him on his Twitter at @Dflessner1.

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