‘Cash buyers only’ for derelict mansion built for a Wall Street magnate

A crumbling mansion in New York City is on the market for nearly $4 million in cash. 

In its heyday, the house at 1000 Ocean Avenue, Brooklyn was the height of Gilded Age glamour. 

It was designed in 1899 by the acclaimed British architect George Palliser for Wall Street magnate George Van Ness and his family.

But today the imposing Victorian building has fallen on hard times. 

Paint is peeling from the grand timber columns, the garden path is overrun with weeds and panes are missing from the sash windows.

Inside, the house looks like a gothic film set, with dark wooden fireplaces and cobwebbed ceilings. 

The house last sold in 2021 for $US1.25 million ($1.91 million). 

Before then, it had been the home of an elderly woman who had lived in the property since 1978, according to the New York Post. 

Sales agent Laura Rozos told The Post the current owner had intended to renovate the house, but found the heritage restrictions overwhelming.

“This is an historic landmarked property needing full interior and exterior restoration,” the listing reads.

“This property is a once-in-a-generation opportunity for a visionary buyer to return one of Brooklyn’s most important residences to its former glory.”

The property was first listed in March this year for $US2,999,999 ($4.6 million), online price records show. 

It was removed from the market last month, before being relisted this week at $US2,595,000 ($3.98 million) – a $620,000 price drop. 

Only cash offers will be accepted.