Historical mansion is on market at $18 million

Got $18 million to spare for new digs?

That's the asking price for a historical 1920s-style mansion that sits on Snell Isle and has a panoramic view of Tampa Bay.

The last time the property changed hands, in 2006, the price was only $5.1 million. Even now, the fair market value, according to the Pinellas County Appraiser's Office, is even less - $4.62 million.

So what, you might ask, justifies the price increase, particularly in a bad economy?

First, upgrades.

Central air and heating have been installed where before there was none, said Alona Dishy, the real estate agent selling the mansion. That's no small feat, considering living space alone constitutes more than 10,000 square feet.

The most up-to-date technology was also brought in to address every other concern for the modern age, ranging from kitchen appliances to security, Dishy said. The 600-foot seawall has been replaced. There's a 75-foot-long heated pool. Docks have been installed to accommodate additional yachts.

Then there was the restoration.

Master craftsmen were hired to return the structure to its original condition in spots. They found fireplaces, beams, archways and ceiling paintings that had been concealed from view by drywall and paint.

Some of the new fixtures and amenities that were installed to maintain the property's simultaneously swank and historic feel were brought in from castles in Europe, Dishy said. The balustrades on the seawall were duplicated on the balconies.

"You could write a book on the light fixtures," she said. "Every detail is done 100 percent beautifully. Every square foot is worth $10,000. They didn't spare anything. They've gone above and beyond," she said. "I'm not just saying it because I'm the Realtor."

As to who "they" are, Dishy would not say. According to the property appraiser's office, the owner is listed as 375 Brightwaters Revocable Trust, which is apparently named after the street address of the mansion, which is 375 Brightwaters Blvd. N.E.

Abba Poliakoff is listed as the trustee, but he could not be reached for comment.

There are other mammoth homes in the Tampa Bay area, some of them for sale, some of them under construction.

The most noteworthy is probably the 30,875-square-foot house being built on Davis Islands by New York Yankees shortstop Derek Jeter. It could turn out to be the largest house in Hillsborough County. The property value could exceed $7.7 million, depending on the features.

In Pinellas, the largest-house distinction belongs to Matt Geiger, the former NBA player who in 2002 built a 28,000-square-foot home in Tarpon Springs. In 2007, he put the estate up for sale for $19 million. Apparently there were no takers.

So how many inquiries has Dishy received since she put the house on the market a week ago this past Friday?

"A lot of interest," Dishy said. "A lot of e-mails."

She said she personally knows of two or three people who have been looking in this market who could potentially be a buyer.

Only those who could potentially buy the house will be allowed on the grounds of the estate to get a close-up view of what's been done, she said.

"There won't be tours or anything," Dishy said. "Not at this level are there open houses."

"It would be nice if you could see it," Dishy said.

"It's available for a person looking for a house in that price range."