1798 Massachusetts mansion bought for $2.16m later sold for city-record $5.2m

The historic estate blends preserved Federal-era character with contemporary luxury, creating a sophisticated modern retreat.

Some houses are measured in square feet; others, in centuries. On Newburyport’s historic High Street, the Philip Coombs House has managed to accumulate both. Built in 1798 for a merchant and shipbuilder, the grand Federal-era property has now changed hands for $5.2 million, setting a new residential sales record for the Massachusetts city.

The price is particularly striking given that the mansion sold for $2.16 million in 2016, before an extensive restoration and expansion reshaped the property for contemporary luxury living.

A historic address gets a new chapter

Located at 51 High St., the more than 7,000-square-foot estate occupies over 2.5 acres in The Ridge, one of Newburyport’s most prestigious historic neighbourhoods. According to Hoodline, the property’s latest sale marks the highest price ever recorded for a home in the city.The scale of the residence is remarkable even by modern standards. The restored estate features seven bedrooms and 10 bathrooms, while its primary suite alone extends across more than 800 square feet.Yet its appeal is rooted as much in history as in size. The house was constructed at the end of the 18th century, when Newburyport’s fortunes were closely tied to its maritime economy and the merchant and shipbuilding trades.

From federal estate to modern retreat

The property’s transformation appears to have been driven by a desire to preserve its historic identity while adding the comforts expected from a contemporary luxury residence. Its restoration has turned the original estate into what the property listing describes as a restored and expanded Federal home.Outside, the grounds are designed for leisure as much as privacy. A heated saltwater swimming pool forms the centrepiece, accompanied by a pool house with indoor and outdoor kitchens.

The combination gives the centuries-old residence a distinctly modern rhythm, where formal architecture meets resort-style amenities.

A dramatic jump in value

The financial trajectory makes the sale particularly notable. Boston Business Journal reported that the mansion’s $5.2 million transaction more than doubled the $2.16 million price recorded when it last sold in 2016.That increase reflects more than the passage of time. Between the two transactions, the property underwent a sweeping restoration and expansion, adding contemporary functionality while retaining its historic character.The result is a home that occupies an unusual space in the luxury market: old enough to carry nearly 230 years of history, yet equipped for the expectations of present-day high-end buyers.

Historic homes drive the market

The Newburyport sale also arrives against a backdrop of strong activity at the upper end of the Seacoast property market. According to regional figures cited in the supplied reporting, 23 single-family homes sold for at least $1 million during one November, marking a record for the area.Against that backdrop, the Philip Coombs House stands apart. Its $5.2 million price illustrates how rarity, location, architectural heritage and extensive restoration can combine to create a category of their own.For Newburyport, the sale is more than another luxury transaction. It places a 1798 landmark at the top of the city’s residential market and demonstrates how carefully restored history can command a very modern price.Image Courtesy: Google Street View