Subterms
Published on February 28, 2024
Andrew Azoulay/ Wallace & Co. Sotheby’s International Realty
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…
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Once again Diane Sawyer is associated with breaking news—but this time, the latest juicy tidbit is centered around her own New England home. Barely two months after the TV broadcast journalist’s longtime residence known as “Chip Chop” first hit the market, the sprawling seaside compound has already traded hands for a smidge under the $24 million asking price, as first reported by The Wall Street Journal.
Records show the speedy buyer is David Malm, managing partner of Webster Equity Partners, who paid $23.9 million for the 20-acre estate resting in the coastal enclave of Martha’s Vineyard. Per WSJ, the investor now lays claim to $100 million worth of luxury homes on the Massachusetts island and neighboring Nantucket, including a historic house on Edgartown’s inner harbor he paid $15 million for earlier this year.
Designed in the late 1930s by Neoclassical architect Eric Gugler and ultimately completed in the mid-1940s, the property was purchased by the news anchor and her late film director husband Mike Nichols in the mid-1990s for $5.3 million. The couple subsequently undertook an extensive restoration in conjunction with Tate Builders, which included adding dormers, and replicating antique windows and doors.
Originally built for stage actress Katharine Cornell, and designed by Neoclassical architect Eric Gugler, the New England-style home is topped with 10 chimneys.
Nestled on two separate parcels of land tucked between Vineyard Sound and Lake Tashmoo, and boasting a combined mile of private shoreline, the seaside spread features a wood-shingled, New England-style main house boasting three bedrooms in nearly 5,000 square feet of living space.
Numerous additional structures include a two-bedroom caretaker’s cottage and a pair of modern beach cottages affectionately referred to as “The Shacks” because of the fishing shacks they replaced, plus two more detached guest bedroom suites known as the Pond and Ocean pavilions. There’s also a swimming pool and Har-Tru tennis court on the premises.
Several ancillary structures are scattered across the 20-acre property.
The 77-year-old anchor known for programs such as ABC World News Tonight, Good Morning America and 20/20, previously told WSJ she is selling this “magic place” because “the rhythms of summer have changed” as her family has grown, and “there is less free time for long visits to the island.”
The listing was held by Mark Jenkins of Wallace and Co. Sotheby’s International Realty; Malm was repped by Tom Wallace of Wallace & Co. Sotheby’s International Realty.
Click here for more photos of Diane Sawyer’s New England compound. More
Earlier this year, prolific property collector Dave Portnoy bought a humble ranch-style house in the Saratoga Springs neighborhood of Upstate New York, just steps from the area’s famed thoroughbred race track.
Now the veteran sports personality— best known as founder of the Barstool Sports media empire—has added to his prime real estate portfolio yet again, but in a much bigger way, with records showing he paid a whopping $42 million in an off-market deal for a waterfront compound in the Monomoy area of Nantucket. He also shelled out an extra $2 million for furniture and other items.
Per The Wall Street Journal, which first reported the sale, the deal set a milestone for the most expensive residential real estate transaction ever recorded both on the affluent island and in Portnoy’s native state of Massachusetts—easily topping the $38.1 million transfer of another waterfront compound in Nantucket by venture capitalist Evan Jones and his wildlife photographer wife Cindy this past June.
The sellers, a pair of trusts known as MAK Daddy and MAK Shack, are both linked to hedge fund manager Mike Colby and his wife Kathi in records. Colby, a longtime executive at Ray Dalio’s Bridgewater Associates, paid a little more than $13 million for two parcels spanning 1.2 acres back in 2016. The couple subsequently razed the existing site structures and engaged architecture and design firm Workshop/APD to create an all-new compound.
Completed around 2018, the spread is now spotlighted by a four-bedroom main house boasting casual yet elegant interiors highlighted by a double-height entry foyer displaying a sculptural staircase, plus bi-folding glass doors overlooking sweeping views of Nantucket Harbor.
Other standout features include a living room sporting a freestanding fireplace and pair of sunburst-inspired chandeliers, as well as a dining area, kitchen outfitted with a marble eat-in island, and primary bedroom suite with a private terrace that has an outdoor shower. There’s also a pool area, along with a detached guesthouse hosting a gym and media room.
Peter Engen of Lee Real Estate acted on behalf of the sellers; the buyer was repped by Shellie Dunlap, also of Lee Real Estate.
Click here for more photos of Dave Portnoy’s Nantucket house.
Read McKendree and Workshop/APD More
A sprawling seaside compound owned by veteran news anchor Diane Sawyer has popped up for sale in the coastal Massachusetts enclave of Martha’s Vineyard.
Nestled amid windswept dunes directly overlooking water views from every vantage point, on two separate parcels of land tucked between Vineyard Sound and Lake Tashmoo, the estate known as “Chip Chop” just hit the market for $24 million, as first reported by The Wall Street Journal.
Records show the TV broadcast journalist and her late film director husband Mike Nichols paid $5.3 million back in 1995 for the property, and subsequently embarked on an extensive restoration in collaboration with Tate Builders. Spanning 20 acres, the seaside spread is showcased by a nearly 5,000-square-foot main house boasting three bedrooms and numerous other structures, all with access to a combined mile of private shoreline.
Originally designed in the late 1930s for noted stage actress Katharine Cornell by Neoclassical architect Eric Gugler—most known for his remodeling work on the West Wing of the White House during President Franklin D. Roosevelt’s administration—the wood-shingled, New England-style main house was ultimately completed in the mid-1940s.
Other buildings include a two-bedroom caretaker’s cottage and two modern beach cottages affectionately referred to as “The Shacks” because of the fishing shacks they replaced, plus two more detached guest bedroom suites known as the Pond and Ocean pavilions. There’s also a swimming pool and Har-Tru tennis court on the premises.
According to WSJ, the 77-year-old anchor known for programs such as ABC World News Tonight, Good Morning America and 20/20, is selling because the rhythms of summer have changed” as her family has grown, and “there is less free time for long visits to the island.”
“Five grandchildren have run through the halls, learned to swim in the warm waters, gathered moss in the forest,” she said. “At Thanksgiving, both enormous fireplaces in the great room give off warmth and golden light. We have always felt so lucky to be together in this magic place.”
The listing is held by Mark Jenkins of Wallace and Co. Sotheby’s International Realty.
Click here for more photos of Diane Sawyer’s house. More
