Chris Burch sells Southampton estate above asking price

TRD TRI-STATE /
Oct.October 15, 2020 12:25 PM
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.

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


Related Articles

arrow_forward_ios
2 Wallis Lane (Courtesy of Mickey Conlon and Tom Postilio, Douglas Elliman; iStock)

Sprawling, 1930s-era North Shore estate hits the market

Sprawling, 1930s-era North Shore estate hits the market
More than 900 homes would be included in the registry if it were created today. (iStock)

Smithtown eyes registry of vacant and foreclosed homes

Smithtown eyes registry of vacant and foreclosed homes
A map of Sag Harbor's moratorium area (Courtesy Sag Harbor Village)

Sag Harbor approves waterfront development moratorium

Sag Harbor approves waterfront development moratorium
Suffolk County DA Timothy Sini (Getty)

Cleanup finally begins after contaminated soil dumped on dozens of LI homes

Cleanup finally begins after contaminated soil dumped on dozens of LI homes
Barneys New York Chairman Fred Pressman and an aerial of Southampton's Meadow Lane (Getty; Google Maps)

Mansion on Southampton’s Meadow Lane asks $52.5M

Mansion on Southampton’s Meadow Lane asks $52.5M
Long Island is aiming to keep the business it grabbed from the city during the pandemic, and it now knows how. (iStock)

Long Island plots to keep its pandemic gains from NYC

Long Island plots to keep its pandemic gains from NYC
150 First Neck Lane in Southampton (Photos via Douglas Elliman)

Southampton’s “Sugar Cube House” knocks $500K off ask for

Southampton’s “Sugar Cube House” knocks $500K off ask for
26 & 32 Windmill Lane in East Hampton (Photos via Corcoran)

Investor tries for flip of the year in East Hampton with $72M listing

Investor tries for flip of the year in East Hampton with $72M listing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...