Buying and selling real estate in the communities of Long Island
Sources: Sean Hannity closes on Centre Island estate
News Corporation chief executive Rupert Murdoch may have a new neighbor to carpool to work with. The house that conservative talk show host and Murdoch employee Sean Hannity was trying to buy has officially closed, real estate sources says. The 16-room mansion on Centre Island closed Wednesday. Hannity paid $8.5 million.
The Hampton-style mansion was purchased from a trust set up after a transfer of the property from Deborah Dolan, ex-wife of Cablevisions James Dolan.
The sale of this home proves that despite a real estate slowdown, homes will sell if the price is right, and Centre Island is no exception. The Hannity house had originally been listed at $13.5 million in 2006, then earlier this year was reduced to $10.5 million. Patricia Altschuls Centre Island manse went into contract last year soon after a price reduction from $18.5 million to $15.8 million. It closed in March 2008 for $12.5 million to Londoner Colin Buffin. Murdoch also recently dropped the asking price for his nearby mansion from $14.8 million to $12.8 million.
One holdout in the pricing game is Billy Joel, whose Centre Island estate, Middlesea, has been on the market since 2006. It was originally listed at $37.5 million in 2006, with a price drop to $32.5 million in early 2007, but Joel has not reduced his asking price in more than a year now and the home remains unsold.