Source: MusicRooms.Net
Whether you know him as the former head of Sony Music Entertainment, a title he held for nearly 15 years, or the ex-hubby of superstar Mariah Carey, Tommy Mottola is a big name in the entertainment biz and he has a big real estate portfolio to match.
Mottola has acquired and sold off almost a dozen multi-million dollar properties over the past 15 years. Here’s a quick rundown of his deep-pocketed, and rather serial, real estate activity:
- In 1998, he sold an expansive Mount Kisco, NY estate for $20,550,000 to Nelson Peltz.
- At the beginning of this year, he sold his 11,000-sq ft, 324-acre estate in Aspen, CO for a reported $17,750,000 — much less than the $27,500,000 he originally listed it for in mid-2010.
- In 1999, Mottola bought three apartments at 25 Central Park West and sold them to Amazon’s Jeff Bezos for $7,650,000 — a fraction of the price for which he paid.
- In 1999, he bought a New York City townhome from DreamWorks co-founder, David Geffen, for $13,300,000. After spending a reported $10,000,000 on renovations, Mottola listed the condo for $34,000,000, selling in September 2003 for $13,800,000.
- In 2001, he sold a 47-acre estate in Katonah, NY for $18,300,000 to move into a custom-constructed, Aspen-style mansion in North Salem, NY
- Mottola completed construction on his 15-room, North Salem, NY home in 2006, and listed it for sale in May 2007 for $19.5 million. The property, dubbed “The Summit,” sold over a year later for $14,750,000.
- In July 2006, Mottola paid $47 million in cash for the 949-acre Crystal Island Ranch — a property in the town of Redstone, about 30 miles northwest of Aspen, CO.
- …and more.
According to Real Estalker, Mottola currently owns homes in Manhattan, Greenwich, CT, Columbia County, NY, and an 8,000-sq ft manse in Palm Beach, FL that he has just recently placed on the market for $8,250,000. Yes, Mottola is making more real estate moves.
Mottola’s Palm Beach residence is chic, casual, and sophisticated, according to the listing information. Built in 2008, the 5-bedroom, 8-bathroom (6 full, 2 half) mansion sits on a .45-acre lot a short distance from the beach. Features include a 3-car garage, elevator, 40-ft pool, chef’s kitchen, walls of French doors, and a luxurious master suite with private terrace, his-and-her baths, and dual walk-in closets. Public records indicate Mottola bought into Palm Beach real estate in 2008, purchasing his pricey pad for a flat $6,000,000.
See more photos of Tommy Mottola’s Palm Beach home
