Sources have outed the buyer behind the $70 million Southampton purchase reported in November.
David Koch’s widow, Julia Koch, bought 840 Meadow Lane, Page Six reported. Her representatives did not comment to the publication about the report.
The Southampton sale was one of the biggest residential deals in the Hamptons last year. The eight-acre estate, which was listed for $75 million, includes a 15-bedroom, 22,000-square-foot Tudor-style home, 500 feet of beach frontage, a beachfront deck, pool and tennis court.
For decades, the property was in the family of the late Julia Vance Carter, who passed away in 2014. The estate was owned by an LLC tied to Carter.
Tim Davis of the Corcoran Group had the listing. The agent declined to comment to The Real Deal.
Last year, Davis told the Wall Street Journal that a major renovation of the property could cost $25 million. According to Page Six, Koch plans to restore the property, which red tape could render a lengthy process.
“They’re in the very early stages of exploring different options [for restoration] — and that might be years away,” a source told Page Six.
Koch already owns an $18 million mansion in Southampton. She seems primed to spend more time in the area.
Earlier this year, Koch reportedly started shopping an apartment at 740 Park Avenue in the Upper East Side for $60 million. A spokesperson said she was looking to spend more time in both Southampton and Palm Beach.
The 18-room duplex was purchased by Koch’s late husband from the Japanese government in 2004 for about $17 million, as he outbid another billionaire, Leonard Blavatnik. The Corcoran Group’s Leighton Candler is marketing the property.
[Page Six] — Holden Walter-Warner