Just down the street from another multimillion-dollar listing that recently dropped in price, the longtime home of a downtown financial firm’s co-founder has hit the market.
Mark Gambill, a founding partner and former chairman of Cary Street Partners, has put up for sale his nearly 6,000-square-foot house at 1215 Rothesay Circle with a price tag of $2.6 million.
The Mediterranean-style home, with stucco siding and tile roof, is just doors down from the neighborhood namesake Rothesay mansion, which returned to the market earlier this year.
Gambill, who recently transitioned to chairman emeritus of the firm he co-founded 15 years ago, is downsizing along with his wife Mary to The Chadwick on Grove, taking one of the four condos they developed above retail space at 5805 Grove Ave., just west of the intersection of Grove and Libbie avenues.
The couple has lived in their Rothesay home since 1993, when they purchased it for $951,000. The 1.6-acre property, which includes an adjoining vacant lot, was valued in a recent city assessment at just over $2 million.
“We’ve been there for a good while, and it’s been a lot of fun. A great house,” Gambill said. “We’ve entertained in it a lot, but it’s also good for just two people.”
Built in 1925, the house features distinct architectural designs by Otis Asbury, a noted Richmond architect.
“We were taken with the architecture when we first saw it and bought it,” Gambill said. “We put an addition on it that mimics it, with the rope moldings around all the doors and windows, and the balconies – lots of features that you just don’t find today.”
Other architectural details include an arched balcony and porch, as well as multiple arched French doors. Totaling six bedrooms, four full bathrooms and two half-baths, the house includes a two-story entrance hall, a library, sun room, and a master suite with separate dressing room and marble bathroom.
A guest house consists of a first-floor fitness room and second-floor guest apartment. The grounds also include a swimming pool, multiple patio spaces and gardens designed by landscape architect Charles Gillette.
“It’s been a very special place for many years for us, and I think it will be for whoever comes along,” Gambill said.
The Gambills listed the house with Re/Max Commonwealth agents Tom Innes and Stanton Thalhimer, who also worked with the couple in listing the condos at The Chadwick, which has sold three of the four units. The remaining unit is priced at $1.09 million.
Meanwhile, the 10,000-square-foot Rothesay mansion at 1234 Rothesay Circle was recently reduced in price. Listed in May for $4.2 million, the mansion’s price tag was dropped earlier this month to $3.97 million. The Steele Group | Sotheby’s International Realty has that listing, which was previously on the market in 2014.