Castello di Borghese For Sale

As of last weekend, my favorite Long Island pinot noir producer, Castello di Borghese  in Cutchogue, went on the market for $9.2 million. The entire estate is included — 85 acres (25 planted with vines), winery, tasting room, warehouse and beautiful family farmhouse.

Before current owners Marco and Ann Marie Borghese bought the property in 1999, the property was known as Hargrave Vineyard — Long Island's first commercial vineyard, founded in 1973 by Alex and Louisa Hargrave. The Borgheses bought the vineyard and winery for $4 million.

When I asked Ann Marie what made her and her husband, an Italian prince, decide to put the property on the market, she answered simply "Marco and I are following our initial plan which was to be here until the children graduated high school and now we are structuring our next phase. The vineyard is for sale and with the time it takes to conclude this type of transaction we are starting the sequence."

Apparently neither her son nor daughter have any interest in taking over the family business. Maybe they'd be interested in adopting a local wine writer and letting him take over?

Apparently there are several parties already interested in the property, but as rumors swirled leading up to last weekend, the Borghese's winemaker Stan Schumacher resigned.

Comments

[Jay]

Sheesh. I was so bummed when the Hargraves sold, though I totally understand how necessary it was. I hope whoever buys it understands the importance of the property.

[Lenn]

Let's hope so...I haven't heard any rumors in terms of potential suitors...but that's some price tag.

I hope that whoever takes over restores the property to its Hargrave days...

[Bill]

All we can do is hope for the best. Look on the bright side--with every transaction the property's history becomes deeper, richer... As long as it's owned by a Long Islander I'll be happy. If foreign investors get involved I'll really be bummed.

[Ed]

As Bill shared the optomistic point of view, I forsee a gloomier future.

I think that the rising cost of real estate will ensure more expensive wine. The problem is that it will not ensure better wine. Assuming a winemaker of similar talent, can we justify an extra $5 or $10/bottle?

[Lenn]

No. I don't think we can justify it. But, if the market at large supports the prices, who am I or anyone else to say they can't charge that.

Are there wines out East that are grossly overpriced in my opinion? Absolutely...countless ones really.

But the quality is there if you take the time to taste the wines and understand the market. I'll put some of LI's 20-to-30 dollar reds up against similarly priced wines from most anywhere.

[Richard Olsen-Harbich]

Lenn, I completely agree with your thoughts on pricing and Long Island. As in most wine regions we have over-priced plonk as well as great value. An educated consumer will eventually identify the producers that are dedicated to - and practice - quality winemaking.

I think this discussion should also mention the countless over-priced wines from California, Australia, France, Germany, Italy, etc. etc.