North Carolina businessman selling his newly purchased mansion for $5.9 million :: WRAL.com
Burlington, North Carolina – A North Carolina businessman is selling his nearly 18,000 square foot mansion for $5.9 million.
Tax records show Burlington resident John Burton purchased the property in Burlington last December.
The elegant mansion ‘transport[s] you in the French neoclassical era,” according to his Triangle MLS listing featured on Zillow.
The garish house looks almost like a castle, with six bedrooms and 14 bathrooms.
According to his real estate agent, he transformed the house into a smart home, built a home theater and added a custom golf simulator, along with other upgrades.
Burton bought the house for around $2.7 million, even though it was listed for over $4 million.
The home has multiple outdoor entertaining areas, is gated, and sits on a private lake.
On a few occasions, the house was available for rent to Elon University students and their families on Airbnb.
The home was custom built in the late 90s by another Burlington businessman named James H. Smith Jr. According to a LinkedIn account associated with his name, Smith is the current general manager of Blue Chip Furniture.
Experts say it’s unusual to see a property valued so high in the Burlington area.
“Inventories are likely to come back because demand for home purchases is down,” said Alina Ptaszynski, head of cooperation communications with Redfin. “We’ve seen this nationally due to rising mortgage rates, stock market declines which tend to impact luxury buyers the most, and general economic uncertainty.”
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