Chris Burch sells Southampton estate above asking price

Chris Burch and his Southampton estate (Photos via Getty; Sotheby's)
Chris Burch and his Southampton estate (Photos via Getty; Sotheby's)

Billionaire investor Chris Burch has sold a Southampton estate for above his asking price, according to the New York Post.

Burch listed the 7,000-square-foot home last month for $15 million and just closed for $15.5 million. He bought the property for $8.6 million in 2013.

Burch, 67, put the property up for rent earlier this year, asking $425,000 for a summer stay. The house has nine bathrooms and nine bathrooms. The East End housing market  has been one of the strongest in the country since the coronavirus pandemic hit.

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An Ithaca College alumnus and the founder and CEO of Manhattan-based Burch Creative Capital, Burch co-founded the luxury fashion brand Tory Burch and has investments in a variety of other enterprises, according to CrunchBase.

He began his business career in 1976 at his college, buying sweaters for $10 and selling them for $15. He went on to expand that operation to other schools and ultimately sold it for $60 million in 1998. He was recognized as a billionaire by Forbes in 2012.

[NYP] — Dennis Lynch