Remember The Money Pit With Tom Hanks? It’s Actually For Sale!

by Sasha CarterSeptember 12, 2017

Walter and Anna’s Beloved Long Island Money Pit Is for Sale

Thirty-one years have passed since we first fell in love with Tom Hanks and his property lemon in The Money Pit, but we still haven’t stopped laughing (cue Walter’s obnoxious laugh, anyone?) over Walter’s renovation woes. While the interior of Walter’s home was shot on a movie set, fans of the film will be happy to learn that the dilapidated exterior of Walter’s mansion is a real home known as The Northway – a Long Island, Gilded Age style estate.

Don’t worry; the New York money pit is done with its days of collapsing stairs, falling tubs, and airborne-turkeys. Today, the home is pure grandeur: it’s the mansion Walter and Anna hoped it would be at the start. The repairs are complete, and the home is move-in ready, so read on to see inside this gorgeous Long Island estate.

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A Real Life Money Pit? Tom Hanks Wasn’t the Only One to Repair This Home

Tom Hanks in The Money Pit wasn’t the only person to fall victim to finding the The Northway in serious disrepair. In fact, the property was a real life lemon! Property owners Rich and Christina Makowsky invested in the estate in 2002, only to realize that the home’s need for extensive renovations wasn’t limited to Hollywood dramatics.

According to Rich, “The house was falling apart when you went from room to room. We definitely could have done the sequel.” Fortunately for the next buyer, the Makosky’s spent millions renovating the home to restore it to its former grandeur.

To witness the home’s splendor in person, cruise through Long Island to reach 199 Feeks Lane. A gated, quarter-mile driveway ushers you through a canopy of trees to reveal “The Northway.” The stately Locust Valley home is all romance and whimsy; just think of the revelry you’ll have sitting out on the home’s beautiful brick veranda as you stay ensconced in your own private paradise.
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Step Inside the Newly Restored Money Pit Home

Visitors will breathe a sigh of relief, as the inside of this Long Island estate is just as stunning as the exterior. But just for good measure, we recommend you toggle a few light switches to make sure the wiring isn’t faulty…

From the moment you step inside, you’ll marvel at the home’s restoration. Let the meticulously restored molding and floor details whisk you away to a work of Gilded Age eminence. In total, the home boasts 8 fireplaces, stunning principal rooms, 7 lavish guest suites, and one master suite that puts any and all others to shame.

The opulent master suite includes 4 rooms, a private kingdom for the home’s new owners. Stretch out on the king size bed to enjoy your new digs. Don’t worry; the mattress has been upgraded so you won’t sink through it.
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Take a Gamble and Buy Tom Hanks’ Money Pit Home

While you won’t be able to buy The Money Pit home for the same steal Walter and Anna did (a mere $200,000), the home’s current listing price is a bargain. In fact, the home is on the market for $5.9 million, which is less than half of what the home was listed for in 2014.

With such a large price drop, we’re wondering if there’s more than meets the eye to this beautifully renovated home. Are you ready to take a gamble and commit to owning this New York home? Act now! If the price drops any lower, we’ll be seriously suspicious.
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About The Author
Sasha Carter
Sasha is a writer and interior designer who lives in Virginia with her husband and three kids. She developed an interest in high profile homes through her work writing feature stories on them in a local magazine. She knows who is selling and who is buying, and is our go-to gal for any celebrity-owned or million-dollar real estate listings.