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NH Motor Speedway founder selling lakeside estate for NH-record $49 million

Union Leader Correspondent

February 25. 2014 8:58PM
New Hampshire Motor Speedway founder Bob Bahre built this 16.5-acre estate on the shores of Lake Winnipesaukee. Bahre has put the property on the market for $49 million. (DEB PORTER HAYES PHOTO)

ALTON — Bob Bahre says he loves New Hampshire, a state he called home when he created what became New Hampshire Motor Speedway in Loudon. But his family no longer needs the sprawling lakefront property he owns on Lake Winnipesaukee.

It could be yours for a mere $49 million.

Realtors say it's by far the largest single residential listing in the state's history.

Reached at his Florida home Tuesday, Bahre said he loves the Granite State, but he no longer runs the speedway so he's ready to give up the Longview estate he had built 12 years ago. Before the 2008 racing season, the Bahre family sold the track to Speedway Motorsports for $340 million.

"We loved the place, but of course we are biased," Bahre said. "We have a place in Maine, in Naples (Florida), and St. Barth. And we sold the speedway, so we just don't need it anymore."

If the price is too high for buyers, "we'll keep the place," he said.

The state has had residential listings above $5 million, but "has never had a listing of this magnitude," said Kristin Claire, listing agent and managing broker of LandVest at the brokerage firm's New Hampshire office.

"There is a $10 million property out there now that hasn't been (sold) yet, and before that I think the highest we had in the state was an $8 million property," said Susan Bradley, a prominent Lakes Region Realtor with Coldwell Banker Residential Brokerage in Laconia.

"It's a substantial property for a substantial price," she said.

Here's what you get for $49 million:

The property, located on 16.56 acres at the tip of Clay Point on Lake Winnipesaukee, features two main homes with more than 60,000 square feet of living space, 1,594 feet of shoreline, an "infinity" pool, grotto, tennis court, ballroom, two boat houses, a post-and-beam barn residence, a tea house, and three one-bedroom apartments.

"The compound," as Claire describes it, was designed to be a private retreat, and features manicured lawns, lush landscaping, meandering lakefront trails and outdoor living areas ideal for entertaining.

The property features a 20-seat theater, a spa and a fitness room, as well as a 7,655-square-foot reproduction post-and-beam entertainment barn with a tennis court, caterer's kitchen and two-bedroom apartment inside.

Outside, there is a lakeside studio located at the base of a stone amphitheater built into the hillside.

There is a cut-granite fireplace on one wall and French doors on the other three walls opening to stone patio on the lake.

"This property sets a new standard for lakefront living," said Claire, listing agent and managing broker of LandVest's New Hampshire office. "In my 16 years of setting top sales in New Hampshire, I've never seen such a combination of location, site quality and amenities."

The property is also being offered as two separate parcels, at 142 Hopewell Road for $24 million and at 144 Hopewell Road for $25 million.

According to town tax records, the assessment on 142 Hopewell is $7.5 million, while 144 Hopewell is assessed at $11.46 million. Together, those assessments would yield a total property tax bill of about $254,000 a year.

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