Real Estate

Sean Hannity Sells Gold Coast Home for $12.7M, Moves to West Palm Beach

Hannity sells Long Island estate for $12.7M, moving to Florida amid high-net-worth migration trend.

By Doug Elli

6/11, 13:06 EDT
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Key Takeaway

  • Sean Hannity sold his Long Island Gold Coast home for $12.7 million, slightly below the $13.8 million asking price.
  • The 11,000-square-foot estate includes luxury amenities like a private dock, golf course, swimming pool, and tennis court.
  • Hannity is relocating to West Palm Beach, Florida, where he purchased an oceanfront townhouse for $5.3 million in 2021.

Hannity's High-Profile Real Estate Move

Sean Hannity, the well-known Fox News host, has made headlines with the sale of his luxurious Long Island estate for approximately $12.7 million. The property, located at 406 Centre Island Road in Oyster Bay, was listed for $13.8 million and sold within weeks, underscoring the high demand for premium real estate in the area. The 11,000-square-foot mansion, featuring seven bedrooms, a private dock, a par 3 golf course, a swimming pool, and a lighted tennis court, fetched around $1,155 per square foot. The anonymous buyer, a fan of Hannity, also purchased the host's furniture and books, bringing the total transaction value above $13 million.

A Lucrative Deal Despite Price Cut

While the final sale price was over $1 million below the asking price, the deal was still highly favorable for Hannity. The buyer's offer included a cash deal and terms that were advantageous to the seller. Hannity originally purchased the estate in 2008 for $8.5 million and invested millions in renovations, making the sale a profitable venture. The property, listed by Nest Seekers International’s Shawn Elliott and Zachary Elliott, attracted four offers and went into contract within a week, highlighting the competitive nature of the luxury real estate market on Long Island's Gold Coast.

The Broader Real Estate Context

Hannity's move from New York to Florida is part of a broader trend of high-net-worth individuals relocating to states with more favorable tax environments. At the beginning of the year, Hannity announced the relocation of his television and radio programs to West Palm Beach, Florida, citing his desire to embrace the "free state of Florida." This move aligns with a growing pattern of affluent individuals seeking to optimize their tax liabilities and enjoy a more favorable climate, both economically and meteorologically.

Market Implications and Personal Choices

Hannity's real estate transactions reflect broader market dynamics and personal lifestyle choices. His decision to sell his Long Island estate and move to Florida is indicative of a larger migration trend among wealthy individuals. This trend has significant implications for both the New York and Florida real estate markets. In New York, the departure of high-profile residents could impact property values and tax revenues, while in Florida, the influx of affluent buyers is likely to drive up property prices and stimulate local economies.