President of Freepoint Commodities, Frank Gallipoli, is putting a coveted modernist house up for sale at $14 million with Sotheby's International Realty.
The commodities trading executive originally bought the property $1 million in the mid-1990s — when the modernist housing market had fewer buyers.
That said, John Hersam, one of the realtors in charge of the project, said Gallipoli likely spent much more to restore the property than it's current asking price.
"It was more of a project of passion, he didn't really think about the return," Hersam said. Hersam listed the property along with Inger Stringfellow.
According to the Wall Street Journal, living inside feels like living in a "tree house," said Gallipoli, who now lives in New York.
The property is a contemporary collector's dream: it's stayed true to Johnson's original design with changes to decrease energy inefficiencies: heat-insulating glass panes and floor heating.
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Welcome to the Wiley House in New Canaan, Conn., home to many famous 50s modernist structures. You'll probably notice the six acres of well-manicured grass first.
Then the huge glass pavilion emerging from behind the trees. Despite its angular structure, the building is considered among the most "livable" of Philip Johnson's works. Four bedrooms make up the foundation of the house.
The house was remodeled to include insulating glass panels after Gallipoli moved in. Come in and take a look...
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