Five years after it first hit the market, a residential listing that long held the title of the priciest in metro Richmond appears to have finally landed a buyer.
River Run Manor, the 16,000-square-foot mansion owned by members of Richmond’s Massey family, was put under contract June 3. The 60-acre estate overlooking the James River in Goochland County most recently was priced at $3 million, the latest reduction from its original price tag of $7.9 million in 2014.
The Steele Group | Sotheby’s International Realty took over the listing early last year from Joyner Fine Properties. Bo Steele, who co-listed with fellow Steele Group agent Debbie Gibbs, attributed the latest price reduction to motivation from their clients to get the house sold.
“We’ve got a couple things to get straight, but we’re trying to get it closed the end of July,” Steele said.
“They’ve been engaged for a while on it,” he said of the prospective buyers. “I think we just got it down to a price that everybody could get an agreement on.”
Steele would not discuss the buyers or their plans for the property, which was built as a residence in the mid-1980s but could lend itself to other uses such as a bed-and-breakfast or event space.
“I think they’re in discussions on both of those avenues. I’m just not sure at this point,” Steele said. Asked if the buyer is local or out of town, Steele said, “They have sworn us to secrecy in writing. They just wanted to keep it quiet.”
Located in Maidens at 2421 River Road West, the 30-year-old house was built by the late William B. Massey, a longtime Richmond coal executive whose grandfather founded A.T. Massey Coal Co., more recently known as Massey Energy.
Goochland property records list the owners as William B. Massey Jr., Mark Thomas Massey, Morgan Massey Bartolini and Anne Massey. They are the four children of William B. Massey, who died in March 2014.
Totaling eight bedrooms and 11½ bathrooms, the Georgian Revival-style home was constructed by Taylor & Parrish and took more than a half-decade to complete, from 1981 to 1987.
Spanning just under 16,000 square feet, the mansion includes a marble-floored foyer with double curved staircase, a ballroom that can seat 150, and an upper-level terrace overlooking the river and Powhatan County across it.
The interior is accented with 18-foot columns and chandeliers, and a lower-level rec room includes a wine cellar. The property also includes a pool, pool house, tennis court and four-car garage.
Joyner agent Richard Bower had the listing originally, pricing it at $7.9 million in October 2014 before reducing it several times through the years. The asking price was $4.9 million when the Masseys switched to The Steele Group, which relisted it with the same price tag before ultimately reducing it to $3 million last month.
The home had been the highest-priced residential listing in the Richmond area for most of that time. It was dethroned soon after The Steele Group took it on, when the 10,000-square-foot “Fairfield” mansion in Henrico County was listed last year at $5.9 million. The reconstructed 18th-century house at 211 Ross Road is currently priced at $4.3 million, apparently still the highest price in the local market.
Steele said River Run Manor was close to a deal earlier on, and for a higher price. While he said more than price goes into getting a deal done, he said the contract offer came down to finding a good fit between a receptive buyer and a motivated seller.
“Part of it is price, but I think it was also just getting the right scenario together for the house, because we had some interest early on, and at higher numbers, and yet just could not get the contract done,” he said. “At the end of the day, it was just the right person at the right time.”