Posted on Jan 08, 2013 09:33 AM EST

Bill Koch Buys Bunny Mellon’s Osterville Residence

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A Cape Cod Styled house is shown above. Bunny Melon sold her Cape Cod property to Bill Koch for $19.5 million. more big
(Photo : Photo Dean / Flickr)

Bunny Mellon, philanthropist widow of banking heir Paul Mellon has finally managed to unload her Osterville residence. The property was purchased by billionaire art collector and sailor, Bill Koch for $19.5 million.

The Cape Cod residence was initially listed in April 2012 with an asking price of $28.7 million. The property claims an area of 6893 square feet and comprises of a guest house and separate staff quarters apart from the main unit. Since Mellon is a horticulturist, the home also sports greenhouses with several stretches of landscaped lawns, gardens and orchards. A tennis court and a seasonal dock are some of its other exquisite features. The home has 1000 feet of private beach front property and a well renovated swimming pool as well, reports Real Estalker.

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The home is a visual treat and perched in the lap of nature, it is a perfect getaway if one aims for a peaceful personal time.

Bunny Mellon has also listed her Caribbean residence for sale with an asking price of $14.5 million. However, the price of the property has come down to $11.5 million currently, reports Curbed National.

While Mellon is on a selling spree, Koch has his real estate deals pulled together. Bill Koch already owns properties in the area of Osterville with his latest addition being Mellon's residence, reports Real Estalker.

Currently, Koch lives at his Palm Beach residence. He also owns estates in the Castle Creek Valley,  Aspen. He also owns a bear ranch just outside Aspen which he is revamping to include a train station, jailhouse, saloon and a firehouse. The 21000 square foot property will be used to frame his Old West memorabilia paintings and some other art collections, reports Real Estalker.

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