After listing his $13.7M Long Island home and announcing “I am done” with New York earlier, the Wall Street Journal reports that Fox News host Sean Hannity has purchased a Florida estate for $23.5 million.
In the upscale town of Manalapan, Palm Beach County, Hannity’s new home was initially listed for $29 million in February. The seller – an executive with ties to hedge fund Alden Global Capital – made a tidy sum on the sale, having purchased the home in 2021 for $18 million.
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The two-acre estate is located on Barrier Island and enjoys frontage on the Atlantic Ocean and Intracoastal Waterway, with a large dock. The roughly 12,000-square-foot, 8-bedroom home features a pool, wine room and rooftop observation terrace. Despite the price, the home’s interior is somewhat dated and would likely undergo a major renovation or even a teardown for a more modern structure, as is common in the area. The luxurious town of Manalapan has seen many high-priced deals recently, highlighted by Oracle cofounder Larry Ellison‘s record-setting $173 million oceanfront estate purchased in 2022.
Hannity is no novice when it comes to real estate. The outspoken conservative, known for his hard-core interviewing style, is equally aggressive in real estate, amassing a fortune in investments, often hidden behind shell companies and spread across multiple states, as previously reported in the Guardian and LA Times.
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According to these reports, Hannity’s shell companies all start with the same four letters, “SPMK,” followed by Roman numerals. The companies spent at least $90m on more than 870 homes in seven states. Many were bought at a discount in 2013 after banks foreclosed on their previous owners for mortgage defaulting. The properties range from luxurious mansions to rentals for low-income families.
Among the varied portfolio is an entire neighborhood of duplexes in Lithia Springs, Ga.; apartment complexes in Athens, Ga.; Brunswick, Ga.; Gainesville, Ga. and Madison, Ala.; high-rise condos in South Florida and a private helicopter and jet registered at an airport 20 miles from his former Long Island home.
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Hannity makes no secret of his extensive holdings and previously stated on his website: “It is ironic that I am being attacked for investing my personal money in communities that badly need such investment and in which, I am sure, those attacking me have not invested their money,” Hannity said in a statement on his website. “The fact is, these are investments I do not individually select, control or know the details about, except that obviously, I believe in putting my money to work in communities that otherwise struggle to receive such support.”
Hannity is among many high-net-worth celebrities in Manalapan, including Larry Ellison, musician Billy Joel and self-help guru Tony Robbins.
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This article Fox TV’s Sean Hannity Trades New York For A $23.5 Million Florida Estate, The Latest Addition To His Expansive Real Estate Portfolio originally appeared on Benzinga.com
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Source: finance.yahoo.com