{"id":377717,"date":"2025-12-30T10:59:06","date_gmt":"2025-12-30T10:59:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/377717\/"},"modified":"2025-12-30T10:59:06","modified_gmt":"2025-12-30T10:59:06","slug":"billionaire-bill-koch-sells-banking-scion-paul-mellons-former-cape-cod-house-for-20-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/377717\/","title":{"rendered":"Billionaire Bill Koch Sells Banking Scion Paul Mellon\u2019s Former Cape Cod House for $20 Million"},"content":{"rendered":"

Billionaire Bill Koch may have struck out on a $100 million-plus sale<\/a> in Colorado, but he\u2019s officially scored $20 million for a Cape Cod island home he put up for sale earlier this year.\u00a0<\/p>\n

The waterfront estate was built by Paul and Bunny Mellon of the famous banking family as a summer retreat in the 1950s in Osterville, Massachusetts. An LLC with ties to Koch purchased a larger 26-acre estate that included the Mellons\u2019 house in 2013 for $19.5 million, according to Barnstable County property records.\u00a0<\/p>\n

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The current sale is a portion of that original estate, a 7.4-acre hilltop slice on Indian Trail, which is part of the Oyster Harbors golf community, on a private island overlooking Nantucket Sound. The property features a 7,300-square-foot main home\u2014the original Mellon home\u2014with four bedrooms, two guest cottages with two bedrooms each, a beach house, a greenhouse and a studio.\u00a0<\/p>\n

The studio was once the art studio of Bunny Mellon, a landscape designer who created the White House Rose Garden. The couple, heirs to the Bank of New York Mellon family and creators of the National Gallery of Art in D.C., purchased the lot in 1948, according to property records. The Mellons hosted Hollywood stars, business moguls, world leaders, and their personal friends, John F. and Jacqueline Kennedy at the home, according to Christie\u2019s Real International Real Estate.<\/p>\n

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\u201cIt is important to me to preserve the home the way I remembered it when I used to visit Paul and Bunny, and maintain their influence and style over the estate,\u201d Koch said in a prepared statement when the house was listed. The buyer couldn\u2019t be determined.\u00a0<\/p>\n

The billionaire, who is the brother of Charles and David Koch of Koch Industries, listed the home in June for $23.85 with Joanna Dresser and Kelly Crosby of LandVest and Christies. It closed for $20 million just before Christmas.\u00a0<\/p>\n

Bill Koch\u2019s ties with the area don\u2019t end there, however. Koch, an award-winning sailor as well as the founder of Oxbow Carbon, owns several other properties in Barnstable County as well as a marina business there. He could not immediately be reached for comment.\u00a0<\/p>\n

He had previously sold another portion of the Mellon estate, and still owns an adjacent 10-acre property, which he purchased for personal use in 2014, according to<\/a> The Wall Street Journal.\u00a0<\/p>\n

\u201cMy main Cape home is next door\u2014it is plenty big for my friends and family now,\u201d Koch told the Journal.<\/p>\n","protected":false},"excerpt":{"rendered":"Billionaire Bill Koch may have struck out on a $100 million-plus sale in Colorado, but he\u2019s officially scored…\n","protected":false},"author":2,"featured_media":377718,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[161350,161234,161232,176953,184739,176965,184746,55387,184743,161228,176954,176966,67382,161233,793,11925,161239,176945,176957,184737,184744,2001,20024,4265,184740,184741,184742,20724,20716,17711,1170,487,176955,176956,184738,184745,20719,74,21,176967],"class_list":["post-377717","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-ce-exclusion-filter","tag-ce-industry-news-filter","tag-content-types","tag-content-type-content-type-article","tag-content-type-content-type-gallery","tag-content-type_content-type-article","tag-content-type_content-type-gallery","tag-corporate","tag-corporate-actions","tag-corporate-industrial-news","tag-credited-by-mansion-global","tag-credited_by_mansion_global","tag-david-koch","tag-factiva-filters","tag-general-news","tag-high-net-worth-individuals","tag-industrial-news","tag-integration-apple-news","tag-integration_apple-news","tag-location-market-massachusetts","tag-location_market-massachusetts","tag-massachusetts","tag-new-england","tag-north-america","tag-northeast-u-s","tag-ownership-changes","tag-physical-asset-transactions","tag-political","tag-political-general-news","tag-property","tag-real-estate","tag-real-estate-listings","tag-real-estate-property","tag-routine-general-news","tag-subject-subject-sales","tag-subject_subject-sales","tag-synd","tag-technology","tag-united-states","tag-wsj-pro-mansion-global"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/377717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=377717"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/377717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/377718"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=377717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=377717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=377717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}