When it comes to ultra-luxury listings, meaning homes that are mostly marketed to the world’s 1%, star power is a helpful tool for sellers but does not guarantee a swift sale. Right now, Rod Stewart is still looking to sell his $70 million L.A. home, Zoe Saldana is asking $16.5 million for her fashionable Beverly Hills manor, and James Cameron is hoping to sell his lush Cali ranch for $33 million. Over on the East Coast, however, journalist Diane Sawyer didn’t need to search for a buyer for her Martha’s Vineyard estate for long. The 20-acre waterfront compound was put on the market in August for $24 million and sold for just a hair less: $23.9 million.
Known as Chip Chop, the residence was originally created in the 1940s for stage actress Katherine Cornell. It quickly gained prestige on Martha’s Vineyard as she used her home to entertain illustrious guests like Noel Coward, Eleanor Roosevelt, and Laurence Olivier. While Chip Chop has evolved quite a bit since then, its prime position for hosting and relaxation endures.
In 1995, Sawyer and her late husband Mike Nichols nabbed the prized beach property and began to use it to host their family and friends as well as political and cultural figures. They restored the three-bedroom main house, designed by neoclassicist architect Eric Gugler, but also made notable additions.
As it stands now, the expansive estate is made up of two lots–one 17.4 acres and the other 2.84 acres–and no less than four structures. It offers 10 bedrooms in total and plenty of useful amenities including a caretaker’s cottage, two beach homes completed in 2007, a Har-Tru tennis court, 2,000 feet of beach, and Pond and Ocean pavilions for soaking in the scenery. Of course, there’s a dazzling pool right in front of the shore as well.
The Wall Street Journal reports that the buyer is healthcare investor David Malm. Tom Wallace, principal broker of Wallace and Co. Sotheby’s International Realty, represented the buyer while Mark Jenkins, also of Wallace and Co. Sotheby’s International Realty, represented the famous seller.
