Maryland seafood tycoon slashes $4million off price of former monastery turned lavish

mansion... now yours for just $28million

By Hannah Rand and Daily Mail Reporter

PUBLISHED: 17:57 EDT, 23 May 2013 | UPDATED: 19:34 EDT, 23 May 2013

The price of an opulent seven-bedroom mansion belonging to the owners of

Maryland's Phillips Seafood company has dropped nearly $4million after a year on

the market.

The palatial 26,000-square-foot Annapolis estate known as the Friary on the Severn

had a listing price of $32million when it first hit the market in May 2012.

Now, deep-pocketed buyers with a taste for luxury can snap up the well-appointed

riverfront home sitting on 23 acres for $28.8million, according to the property’s listing

agent, TTR Sotheby’s International Reality.

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Discount price: The 23-acre, seven-bedroom Maryland riverfront home was initially listed for record-

breaking $32million, but after a year on the market, the price has dropped down to $28.8million

The impressive property is owned by third-generation seafood tycoon Steve Phillips,

who bought and renovated the former Capuchin monastery with his, wife Maxine, in

2002.

It took six years to complete the full restoration and update of the Georgian

Revivalist mansion.

Sotheby’s agent Maria-Victoria Checa told the Baltimore Sun that the Phillipses,

who bought the high-end property 12 years ago, have decided 'they no longer need

the space it offers.'

Nestled in the woods of Annapolis and on the banks of the Severn River, the house

also has eight bathrooms, two swimming pools, a spa and a nine car garage.

There's also a commercial-size gourmet kitchen (for your personal chef, no doubt) as

well as a catering kitchen.

A wine cellar, workshop, library and six-slip private dock (with boat lift) for when the

neighbors pop around for coffee are also part of the package.

Oh, and don't forget the secret vault, or the three-bedroom gate house.

So, with all this luxury, why are the Phillipses moving out?

'Once the kids are gone and out of the house, sometimes you find yourself thinking,

"Gee, this is more house than we really wanna take care of,"' TTR Sotheby's broker

David DeSantis, who is handling the sale, told CBS.

Family home: The impressive property is owned by Steve Phillips [centre right, with friends at a

company event] who bought and renovated the former Capuchin monastery with his wife Maxine in

2002

Seafood empire: Phillips Seafood is a third-generation, family-owned company that started in the

Maryland area and is now worth millions of dollars

River frontage: Balanced on a 140ft cliff overlooking the River Severn, it was built in 1922 by an arms

dealer, who used the vast and secretive basements to store his guns

Heavenly past: The house was then sold to the Catholic church, in the Forties, and turned into St

Conrad Friary - although it would have been more austere then

Make an entrance: The house was unused for thirty years until the Phillipses came along and

extensively renovated the rooms

Historic home: New wings had to be created and the old dormitories were replaced with tasteful rooms

Religious tones: While the house is mainly contemporary in feel, some rooms do hint at its historic past

'There are certainly people in other cities and other countries who could see the

appeal of owning a property in this town,' said Mr DeSantis.

THE HISTORY OF THE HOUSE

It was built in 1922 by an arms dealer who used its extensive basements for storing his guns

In the Forties, the property was sold to the Catholic church who turned it into St Conrad Friary

Up to sixty Capuchin monks could live in the friary at any one time

In the Seventies, the religious group moved out

But a owner could not be found for another 30 years - until the Phillipses moved in and started

the renovation

And there's no doubt about the alluring appeal of this classic Georgian Revival brick

home.

Balanced on a 140ft cliff overlooking the River Severn, it was built in 1922 by an

arms dealer, who used the vast and secretive basements to store his guns.

In the 40s, the property went to a decidedly less sinful owner - the Catholic Church,

which turned the home into St Conrad Friary, where up to sixty Capuchin monks

lived at any one time.

Thirty years later, the religious group moved out and the house fell into disuse until a

buyer could be found.

It took another 30 years before Steve and Maxine Phillips came along and took on

the large-scale renovation.

They employed the help of local architect Charles Anthony, as well as Matthew

Mosca, a historic paint finishes consultant, and interior designer Henry Johnson.

And while some of the original feel of the house has been preserved, the couple,

who enjoy sailing, turned many of the rooms into light, airy space with a subtle

nautical feel.

They have competed together in professional yacht races, including the grueling

Rolex Farr 40 Worlds Series in Australia - winning many of the competitions.

Cook up: There are two kitchens - one for your personal use and another for the caterers

Yacht lovers: Maxine and Steven Phillips are sailing fans, hence the relaxed, nautical feel of the

interior

Mr Phillips is the third-generation owner of the seafood giant, which has a history as

rich as their beautiful home's past.

His grandfather started a crab processing plant in the Chesapeake Bay area at the

turn of the century.

Then, in 1956 Brice and Shirley Phillips (Steve Phillips' parents) moved the family to

Ocean City, Maryland, and opened a small carryout restaurant called Phillips Crab

House.

'I can still remember our early days when my brother and I would help Dad steam

crabs, taste Mom’s new recipes or sit on the front steps proudly calling in that

another guest was coming for dinner,' says Mr Phillips on the company website.

Today, the profitable company has grown so much that it extends from the mid-

Atlantic base along the East Coast.

And has become successful enough for its third-generation owner to afford to own

what could be the most expensive property in the state.

Too big: The Phillipses are moving out because the property is too big now the kids have moved away

Play ball: The home is currently open for viewing - as long as your bank can prove you have the funds

in your account to meet the mufti-million dollar price tag

Of course, compared to other zones in the U.S., $28.8million is a paltry sum.

Take the high prices of Florida, New York or Washington DC's finest properties.

The highest valued-abode in the Big Apple is currently the $90million Woolworth

Mansion, known today as the Ukrainian Institute, on the Upper East Side.

In the Sunshine State, a cool $125million will get you the sprawling faux French

chateau, Fleur de Lys.

In Washington DC, where leading businessmen and politicos push up the prices, the

most expensive home in the area is owned by AOL founder Jim Kimsey.

His 1,000-square-foot mansion, The Falls, is worth some $45million – although you

do also get a Frank Lloyd Wright-designed house overlooking the Potomac River in

the deal.

Light and airy: The home is nestled in the woods of Annapolis and on the banks of the Severn River

Sumptuous furnishings: Although the rooms have plenty of natural daylight, they are cosy and grand

Vintage appeal: The property also has a full, temperature-controlled wine cellar

Water therapy: The property includes two swimming pools as well as a spa

Record breaker: If the asking price is matched, the home will be the most expensive sold in the

Maryland area

Plenty of space: One of the seven bedrooms has been turned into a guest loft and work space

Docking point: There's a private slipway on the river - with a mechanical boat lift - that can berth six

vessels

Wood-lined kitchen: One of the two cooking areas has been decorated with hand-crafted wooden units

Time out: There's even a full spa for your relaxation

Masterful bedroom: This stately room is one of seven sleeping spaces

Washrooms: There are a total of eight bathrooms in the property...

... complete with power showers - and hopefully a housekeeper to keep them all clean

Watch a tour of the house on video: