Billionaire Bill Koch chops $2.5 million off the price of his Osterville "Yachtman's Paradise"
A million here, a million there, pretty soon we're talking about real money
You can save $2.5 million now on William Koch's "Yachtsman's Paradise" in Osterville. Photo from the Robert Paul Properties website.
How many waterfront mansions does a billionaire need?
Will Billionaire Bill use a few million more to save his oceanview?
Two weeks ago we published a story about Bill Koch entitled "Fighting Cape Wind $1 million at a time", see that story below. It's difficult not to imagine there may be a connection between that and the fact that Bill Koch has reduced the asking price of his Osterville mansion by $2.5 million.His property in Oyster Harbors in Osterville was put on the market last year for $15 million, and according to the Robert Paul Properties website, the price has been reduced to $12.5.
He has voiced his anguish at having to see a wind farm in the distance.
Billionaire is not wining
This is almost the same loss Koch suffered a few years ago when he admitted in court that he was conned into paying $2.1 million for fake bottles of wine, see the Palm Beach News story below.
As one commenter on the CBS News story about Koch's phony wine said, "One plus, seeing Mr. Koch show the world his intellectual prowess when he bought 4 bottles of wine supposedly owned by Thomas Jefferson. Thomas Jefferson had marked his name on the bottle with an electric etching tool. A very common practice in the late 1700's... writing ones name on wine bottles with ELECTRIC tools! Please let Mr. Koch know I have a 1st edition bible autographed by Jesus for sale. What a pathetic fool..."Koch's 8,600 square foot Oyster Harbors home is on a one and a half acre waterfront lot, has its own dock, 9 bedrooms, 8 full baths and 4 half-baths, with taxes of $66.398 a year and it's assessed at $6.3 million.
Bill Koch is most famous around here as the major backer and the money behind the one remaining group fighting to stop Cape Wind - the Alliance to Protect Nantucket Sound.
Although that group will not release the names of its financial supporters, Commonwealth Magazine says it’s a good bet the big donor is Koch, a Floridian who summers in Osterville on the Cape. Koch runs Oxbow Corp., a major energy conglomerate, and is worth almost $4 billion.
In an interview with CommonWealth Magazine earlier this year, Bill Koch said he had donated more than $5 million to that organization as part of a strategy to keep delaying Cape Wind in the courts and in the court of public opinion until the proposed wind farm’s owner, Jim Gordon, calls it quits.
Maybe one waterfront mansion is enough
Of course, perhaps Bill Koch cut the price of his "Yachtsman's Paradise" because he recently bought Bunny Mellon's waterfront mansion nearby. Bunny, who prosecutors say gave millions to help former Democratic Sen. John Edwards cover up an affair, sold a 25-acre portion of her waterfront Cape Cod compound to Bill Koch for $19.5 million.Forbes claims that Bill Koch is worth $3.8 billion, and they rank him as number 122 on the Forbes 400, down from number 92 a year ago.
So what's a couple million one way or another for one of the wealthiest men in America. The only thing I have in common with Koch is that we both graduated from Culver Military Academy. Bill is listed as one it Culver's "Notable Alumni". I am not.
Robert Paul Properties describes Bill Koch's Osterville digs as "Yachtsman's Paradise on Nantucket Sound... On the south coast of Cape Cod, on the renowned private island of Oyster Harbors, only a few rare properties offer views of Nantucket Sound, a private sandy beach".
See these related stories:
- Listing: 177 Seapuit River Road, Osterville [Robert Paul Properties]
- Wine collector who defrauded Palm Beacher Bill Koch convicted in N.Y. [The Palm Beach Post]
- Sandwich Demolition; Bunny Mellon's $19.5M Sale; & More! [Curbed Cape Cod]
- Bill Koch Lists His Osterville Compound For $15 Million [Curbed Cape Cod]
- Fighting Cape Wind $1 million at a time [Cape Cod Today]
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