He bought it in 2004.
Billionaire investor Bill Ackman is selling his estate for $7.5 million. He bought it in 2004 for $3.3 million. Even when adding the $1.5 million spent on upgrades, the sale price still gives him a $2.7 million profit.
Located at 445 County Route 17 in Chaltham, NY, the estate sits on 100 acres of land. It has a 75 foot long pool, a spa, tennis courts a 2-acre pond and walking trails. The mansion itself has 9,700 square feet, five bedrooms, 4½ bathrooms, 25 foot high ceilings in the family room, a wine cellar and a gym.
It is listed with Houlihan Lawrence.
In an interview with Dealbreaker back in 2012, Bill Ackman explained that his estate helped him with making investments saying, “This place has really good investing karma. Some of my best ideas have been hatched in this house.” Ackman held a company retreat there.
From the listing:
Privately situated up a long winding drive through the apple orchard you will find this exquisitely crafted estate on 100 serene Old Chatham acres. The hilltop setting takes full advantage of 360 degree panoramic views in every direction, from the breathtaking sunsets over the Catskills to the sunrises over the Berkshires. The pastoral setting includes a large pond that winds along the hillside below the home, expansive lawns, mature trees and walking trails. The estate contains a manor house, luxurious pool house, 70′ heated gunite pool and spa, clay tennis court and two lofty studios with baths and kitchenettes above two car garages. Designed by the area’s leading architect and completed by master craftsmen, every room embraces a fresh classic style with exquisite attention to detail: custom millwork, interior shutters, elegant fittings and grand windows creating an airy sense of comfort with the features most desired for modern family life and entertaining. The manor house offers a professional country kitchen adjoining the family room, which features 25′ ceilings, a fireplace, large screen porch and patio. Expansive butler’s pantry adjoins kitchen with formal dining room with fireplace. The welcoming grand hall is anchored by the fireplace flanked by French doors to a large patio overlooking the Catskill sunsets. Front to back living room with fireplace enjoys east and west views. A large sunroom with radiant heat leads to the 4 BR guest wing. An elegant curving center staircase leads to the master suite with fireplace and balcony embracing the view, two dressing rooms and his and her luxury baths. Lower level media room, wine cellar and gym. The newly built three-story pool house offers every luxurious amenity for indoor-outdoor living, providing a second living space overlooking the pool and tennis court with 360 degree views. Features full open kitchen, outdoor kitchen with grill, media room with surround sound, folding glass doors, two fireplaces, full bath and powder room, outdoor bath and shower, hammock pavilion and playground and recreation space. Expansive outdoor patios and decks for lounging by the pool, dining and entertaining. Two separate oversized two car garages flank the residence and contain light-flooded studio spaces with full baths and kitchenettes, perfect for flexible use as art, exercise, office, security, caregiver or guest space. Mint condition, supported by the latest smart home technology.
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