Austin Hearst, grandson of newspaper titan/publishing baron and castle-building real estate whale William Randolph Hearst, has sold his Squam Road beachfront property for $20M. We wrote about the whale-friendly property back in July when it was on the open market asking $19.9M. It turns out that the property, encompassing 51, 53 and 55 Squam Road, remained available as a pocket listing with Great Point Properties. According to The Inquirer and Mirror, Austin Hearst is "a TV and film producer who is ranked 250th on Forbes Magazine's list of the 400 richest people in America, with a net worth of $1.9 billion." He sold the property through an LLC to a buyer, the Wash Ashore Nominee Trust, represented by Maury People Sotheby's International Realty. As for the identity of the mystery buyer, Great Point Properties' Bill Liddle would only reveal that, "it was not Tom Brady."
__ · Squam property sells for $20 million [The Inquirer and Mirror]
· Squam Road Beachfront On the Market, Asking $19.9M [Curbed Cape Cod]
· Now, a Look at the Biggest Real Estate Whales in U.S. History [Curbed National]