Rutland-Farley estate fetches $8.1M all-cash deal

The historic waterfront Rutland-Farley estate in St. Petersburg has a new owner. 

The 4.41-acre property, at 5030 Sunrise Drive, sold in an $8.1 million all-cash deal. 

The Rutland-Farley estate. 

The restored estate, which is said to have been built in 1918, once belonged to St. Pete businessman Hubert Rutland. Real estate developer Philip Farley purchased the home in 2004 for $2.3 million.

Ziba Mohammadi with Keller Williams St. Pete Realty, who represented the seller, said the buyer purchased the business entity tied to the estate. Although the sale was associated with the private business purchase, the sale of the estate was executed through a separate transaction. 

“The buyer was looking at a few options and narrowed it down to this estate and one in Key West,” Mohammadi said about the Pennsylvania buyer. “The buyer loves its history and plans to move to St. Petersburg and make this their permanent home.” 

The buyer was represented by Karen Eisenbrei with Charles Rutenberg Realty.

The 9,213-square-foot English Tudor mansion, which had been listed multiple times throughout the past few years, was last on the market for 99 days, with an asking price of $8.5 million. 

The entire 4.41-acre property. 

The unidentified buyer discovered the property while driving their yacht in the bayou behind the neighborhood. The buyer submitted an offer the same day they viewed the home. 

Mohammadi, who has an engineering background, said the seven-bedroom estate has issues such as mold and structural damage. Despite this, Mohammadi said, the buyer is determined to keep the historic home. 

The gated home, which was featured in the Selling Tampa Netflix series, features six fireplaces, a gym, eight bathrooms, a library and more. 

Outside of the estate’s doors, there’s a bocce ball court, a putting green, an Olympic-sized pool, an outdoor kitchen and a dock with a 50,000-pound lift, according to the listing. 

The Rutland-Farley estate.