Osterville house sells for $19M
OSTERVILLE — The most expensive house on the market on Cape Cod has been sold — with a $9 million discount. And there are prominent names on both ends of the deal.
The Osterville property of philanthropist Rachel Lambert "Bunny" Mellon sold for $19.5 million in a deal that closed Dec. 19 and was posted in the Barnstable County Registry of Deeds Jan. 2.
The home was listed earlier this year for $28.7 million. The buyer was Home Port Investments LLC.
State corporate records identified William Koch — the billionaire, former America's Cup winner and Osterville property owner — as a principal of Home Port Investments.
Koch made his fortune in the oil and mining industry and is an outspoken opponent of Cape Wind. He won the America's Cup in 1992.
Koch told the Times he also recently bought a 12-acre property long owned by the Dupont family.
That $7 million deal closed on Dec. 26, according to documents at the Barnstable County Registry of Deeds. Together, the two properties will serve as a family compound.
Koch and his family bought a home about half a mile away from the Mellon and Dupont properties in 1984.
"This is a chance of several lifetimes," he said about buying both and merging them into a waterfront vacation place for his children and grandchildren to use.
Mellon, 102, is the widow of banking heir and philantropist Paul Mellon.
The property was the highest-priced home for sale on the Cape. The 21-room house is within the gated community of Oyster Harbors, at 17 Indian Trail. The nearly 7,000-square-foot home, with eight bedrooms and nine bathrooms, lies on 27 acres.
Jack Cotton Jr., of Sotheby's International Realty, who brokered the deal, said the property's grounds were impeccably maintained.
"Every tree, bush and plant have been nurtured, tended to and allowed to flourish," he said.
Mellon, an avid gardener, redesigned the White House Rose Garden during the Kennedy administration.
He called the interior of the house "very understated."
"Being in this house was like being in a work of art," he said.
Koch, who's 6-foot-4, said one challenge with the property is its six-foot doorways.
On Thursday, Realtor.com had seven properties on Cape Cod listed at $10 million or more.
The highest priced property is in Osterville and listed at $15.999 million and is located at the west end of Seaview Avenue.
OSTERVILLE - The Wall Street Journal reports that, "according to people familiar with the deal," Bunny Mellon's Oyster Harbor's estate (above) has sold for $19.5M to Home Port Investments LLC. The 26 acre estate had been listed for nearly $30M for whole shebang or seven acres for $11.5M. According to The Realestalker, the LLC belongs to multi-billionaire Bill Koch. We'll update when the Barnstable records become available. [Wall Street Journal; Realestalker; previously]
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