REAL LI had been hearing whispers, and then The Palm Beach Daily News reported yesterday that Donald A. Burns closed Monday on the sale of Old Trees, the 10-acre Southampton compound that has been listed for $48 million with Harald Grant of Sotheby’s International Realty.
Grant confirmed to REAL LI that the sale had indeed closed but cited a confidentiality agreement in not providing further details.
The News reported that the buyer is Manhattan real estate developer Rodney Propp and that the sale price was $40 million. When the News asked Burns if he had chartered a separate plane to carry his millions, Burns replied, "Not necessarily. Minus the commish."
Old Trees was built on Lake Agawam in 1911.The 15,000-square-foot home has 13 bedrooms and a dining room that seats 60 people. It had been on the market since 2006.
Propp currently has his six bedroom Bridgehampton home on the market for $13.995 million, listed with Susan Breitenbach of the Corcoran Group.
Propp could not be reached for comment on either sale.