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.
Don’t Miss:
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.
See Also: Unlock the hidden potential of commercial real estate — This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!
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.
Trending: During market downturns, investors are learning that unlike equities, these high-yield real estate notes that pay 7.5% – 9% are protected by resilient assets, buffering against losses.
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.
Read Next:
Up Next: Transform your trading with Benzinga Edge’s one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today’s competitive market.
Get the latest stock analysis from Benzinga?
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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
