Jack Boyle: One Mansion Too Many
It’s been a while since we heard from legendary concert promoter Jack Boyle. Almost 10 years after selling his company to SFX, he’s back in the news – not for returning to concert promotion but for putting his nine-bedroom mansion in McLean, Va., on the block.
McLean Manor, which sits on five acres and features 12 full baths, five half-baths, eight fireplaces, two fountains and two six-car garages including two limousine bays, hits the auction block August 23rd through J.P. King Auction Co.
Boyle sold Cellar Door and his real estate (including Nissan Pavilion) to SFX in 1998, taking the title of SFX Music Division chief. Like many who joined the rollup, Boyle took a nice check for his company – reportedly north of $100 million – so there was a likely a bit of mad money available to build a mansion.
It was meant to be a private sanctuary and is filled with personal touches, including a grooming room for Janet Boyle’s cats, according to the Washington Post. However, construction took years and Boyle renovated a home in Florida while waiting.
"The construction took longer than we anticipated and, by the time it was finished, our lives and interests had moved into a new direction," Boyle said in a statement announcing the auction.
And in today’s real estate climate, a house like this one is considered to be better sold via auction than on the regular market.
"I’ve been referring to this as the ultimate Washington, D.C., power home," J.P. King President Craig King said. "It even has its own Oval Office, with floor-to-ceiling bookcases and a huge chandelier. Not to mention a second office with Swiss columns and an onyx fireplace."
J.P. King representative Carl Carter explained that the unique home has been hard to place in a traditional real estate market.
"With a home like this, you’re not necessarily looking for a local buyer, where a traditional sales process typically centers," Carter told Pollstar. "But in a place like Washington, your buyer could be anywhere in the world. It could be a diplomat, lobbyist, someone who doesn’t necessarily live in the Beltway.
"The second thing is, a home like this is hard to put a price tag on because there aren’t any comparable homes to base a meaningful appraisal on. The auction gets around that by letting the bidders determine the value. Kind of like hard-to-get concert tickets."