Conrad Black’s ancestral home in Toronto’s exclusive Bridle Path enclave is for sale.
The mansion at 26 Park Lane Circle, which was built by Black’s father, will go up for auction on March 8.
The former media baron and author inherited the home which boasts nine bedrooms, 11 bathrooms, a guest apartment and a coach house on a 6.6 acre property.
“It is a big house for two people. We will be abroad a good deal, and moving to a more manageable home will be a convenience to us now as our careers have evolved,” wrote Black in a statement.
The home will be auctioned off by Concierge Auctions of New York in conjunction with real estate agent Barry Cohen from Re/Max Realtron Realty Inc., who said the property has an estimated value of $21.8 million.
“Conrad and Barbara Black … are at a point in their lives where they no longer need such a large space,” said Adam Daifallah, the Black family’s spokesperson. “The children have all moved out, upkeep is time consuming and costly, they rarely entertain, and, given their frequent travels to Europe and elsewhere, they decided it was time for something more manageable in Toronto.”
The mansion, which was built in six stages, is essentially an urban castle with everything from an indoor pool and spa to a chapel that a press release points out was consecrated by two cardinals.
Designed by famous architect Thierry W. Despont, who built homes for the likes of Bill Gates and Gianni Agnelli, the home is described as “nestled amongst trees” at the end of a “winding, romantic driveway.”
In its 65-year existence the Georgian-style mansion hosted Richard Nixon, Margaret Thatcher and even Elton John.
Previously, Black has sold off 2.8 acre slice of Park Lane property, which was traditionally used as the service entrance to the estate, at an asking price of $7.2 million.
As well, Black’s British colonial-style Florida mansion in Palm Beach sold for the equivalent of $26 million in 2011 and he reportedly sold his London townhouse for more than $23.4 million.
The auction for the mansion will have a reserve price, though Concierge Auctions said they would not disclose it.
“The auction process was chosen for its convenience,” said Daifallah. “They [the Blacks] didn’t want the burden of having to prepare the house for endless viewings until it sold.”
Black was stripped of his Order of Canada by Gov. Gen. David Johnston in 2014 after spending three years in U.S. federal prison on fraud and obstruction of justice charges before being released in May 2012.
He was once one of the world’s most powerful and influential figures with more than 500 publications under his banner by the late 1990s.