Eight months after selling his Southampton estate, venture capitalist Chris Burch is back in the Hamptons.
The billionaire investor and fashion mogul paid $29 million for a 12,000 square-foot home at 258 Horsemill Lane in Water Mill, according to the New York Post.
Located on seven acres with an apple orchard and rose garden, the mansion has five bedrooms, 6.5 bathrooms, a guest cottage and a heated pool flanked by rows of Sycamore trees. There’s also 360 feet of water frontage on Mecox Bay, including a dock.
Burch sold his 7,000-square-foot Southampton home last October to the Cox media family for $15.5 million — about $500K above asking and nearly double what he paid for it in 2013.
He and his wife Tory Burch bought a home in Miami Beach around the same time and they plan to make that their main residence, which could help them avoid the higher tax bills associated with New York residency.[NYP] — Dennis Lynch