Anyone who shared a meal at Villa Balsamo back in its heyday will remember that the property itself was just as impressive as the food. Now the 10,240-square-foot mansion can be yours for $3.5 million.
Located beyond formidable metal gates at 2255 Ballston Avenue, the expansive property is set on 14 acres with ponds, mineral springs and a six-car garage. Inside, there are 9 bedrooms and 7 1/2 baths with incredible details like antique tiles, as well as a huge commercial kitchen—after all, it was most recently a restaurant.
“It’s such a beautiful place,” says Amy Farchione Sgromo, who, along with Charles B. Goodridge, is representing the property for Julie & Co. Realty, LLC. “It’s set back from the road, so it’s quiet and has amazing views. I could see it as another restaurant, a bed and breakfast, or a wedding venue. Many of the bedrooms are en suites. Of course, it could also be restored to its original glory and would be a spectacular single-family home.”
The property’s last owner was Joseph Balsamo, who, after immigrating to America from Sorrento, Italy, opened a popular restaurant that served his native Southern Neapolitan cuisine during Saratoga’s racing season. It was open, off and on, from 1976 through 2017.
The estate itself was originally built in 1929 by the Schutts family, who made their fortune in the knitting industry. Floyd J. Shutts reportedly spent a half million dollars (a fortune in the early 20th century) to build his dream home, but died shortly after its completion. In the 1960s it was owned by Schenectady businessman Chester Hotaling, who first turned it into a restaurant. Legend has it that famed crooner Bing Crosby was one of its most notable guests.
The tile work has been a particular standout to visitors with an eye for design. “The tile work which we performed for Mr. Shutts in his home could only be compared in extent and quality with that found in such places as Newport, R.I., or Hollywood, California where price was of secondary consideration,” builder Frank Purdy wrote. “The tile work in the other bathrooms, solarium, game room, kitchen, halls, pavement over garage, etc., represented the best that our industry could produce according to the standards of 1929.”
With Joseph Balsamo’s passing in 2018, his family made the decision to sell the cherished property that housed his renowned restaurant. Known for his culinary genius, Balsamo’s dishes brought people together in a way that only he could. With his unique flair and passion for cooking, the restaurant became a beloved local institution. However, without Balsamo’s irreplaceable touch, his family felt that the restaurant simply wouldn’t be the same, choosing instead to honor his memory by allowing others to create new memories in the space.
Sgromo says one of her favorite spots in the sprawling home is the lower-level bar that nods to the speakeasy days from which it came. “It’s so special,” she says. “There is so much memorabilia to explore. It’s really a great property.”
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