Making a profit is always in fashion!
Calvin Klein has just sold off the last of his Hampton’s real estate portfolio for a whopping $85 million.
The nearly 8.5 acre spread was sold in two off-market transactions, according to Dirt, with the bulk of the estate going for $75 million. An undeveloped adjacent strip of land traded at $10 million.
The famed fashion designer, 78, had purchased the home back in 1987 from the son of Juan Trippe, the founder of Pan American World Airways, for only $3.6 million at the time with then-wife Kelly Rector.
The two officially divorced in 2006, although they had been separated for nearly a decade by that time.
Spanning over 10,100 square feet, the home is made up of five bedrooms and eight bathrooms.
The property features the main house, a pool that was added by the Kleins, and a boathouse on Georgica Pond. Shortly after the Kleins purchased the residence, they brought in famed architect Thierry Despont to update the interior.
This marks the second time in less than a year that Klein has sold an off market Hampston estate valued at more than $80 million.
In 2003, he purchased an oceanfront mansion in Southampton for $30 million, later demolishing it and building a modern glass box in its place. The home was sold to hedge funder Kenn Griffin last year for a colossal $84 million.
Despite selling off his Hampton properties, Klein still owns a 10,000-square-foot triplex penthouse in New York City’s West Village neighborhood.
In 2015, he shelled out $25 million for a 9,300-square-foot contemporary mansion just above L.A.’s Sunset Strip.
Last month, Rector dropped $16 million on a 600 square-feet tiny Hamptons cottage.