A Third Of Sillerman's Southampton Property Asks $39 Million - 27 East

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A Third Of Sillerman's Southampton Property Asks $39 Million

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authorEvan Reeves on Sep 15, 2014

Robert Sillerman, once on the Forbes 400 list, has put his 3.6-acre property on Meadow Lane in Southampton on the market for $39 million. The residence, built in 1994, is larger than 12,000 square feet and comes with 200 feet of oceanfront as well as adjacent acreage on the bay side. The listing is part of a larger package of properties he is selling in Manhattan and Anguilla for a combined price of $107 million.

For now, Mr. Sillerman is keeping his two adjacent lots to the east on Meadow Lane, one of which has served as the guest house and the other as a three-hole golf course he installed after buying the lot and tearing down the existing house. The cycle has come full circle now for Mr. Sillerman, who may very well see his main house torn down by the eventual buyer.

Mr. Sillerman is most recently known for restarting SFX Entertainment in 2012, after having sold the company back in 2000 for $4.4 billion. He has now shifted its services to focus on producing live electronic dance music events, including synchronizing illuminated dance floors to change along with the music being played. In 1998, Mr. Sillerman sold more than 70 radio stations that he held in a separate company, SFX Broadcasting, for $2.2 billion. In the early 2000s, under CKX Inc., Mr. Sillerman purchased the majority rights to the Elvis Presley estate and Simon Fuller’s 19 Entertainment, which owns “American Idol.”

In 1993, Mr. Sillerman served as the chancellor of Southampton College, famously appointing Kermit the Frog as the commencement speaker in 1996 to represent the college’s two-pronged focus on marine science and creative writing. Mr. Sillerman still supports the college as part of Stony Brook University and is also a major contributor to Tim Bishop’s campaign for Congress.

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