Calvin Klein scores $85M for East Hampton mansion bought for $3.6M

Making a profit is always in fashion!

Calvin Klein has just sold off the last of his Hamptons 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. 

Built in 1891, the estate is situated on 8.4 acres of land.
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The home is made up of 5 bedrooms and 8 bathrooms.
Google Maps

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 Hamptons estate valued at more than $80 million. 

American Fashion designer Calvin Klein and Kelly Rector attend the Glory of Russian Costume Exhibition, held in the Metropolitan Museum of Art Costume Institute, New York, New York, December 12, 1976
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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 Ken Griffin last year for a colossal $84 million. 

Despite selling off his Hamptons 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 LA’s Sunset Strip.

Last month, Rector dropped $16 million on a 600-square-foot tiny Hamptons cottage.

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