A contemporary music mogul, some may say an icon of the entertainment industry, seems to enjoy the suburban county life in Bedford.
Monte Lipman, founder of Republic Records and president and chief operating officer of Universal Republic Music, has reportedly closed on a nearly 12-acre property for $7 million, according to Westchester County records.
The property at 147 Cantitoe Street in Katonah is in the town’s major estate neighborhood about 8 minutes, 4.2 miles, from a 4-acre property on Stone Paddock Place he bought in 2002 for $2.4 million.
But the new place has 8 bedrooms and 6 bathrooms and noted to be a “horse property.” It was originally listed at $9.5 million and had a lot size of 19.5 acres. This closed sale was for a slightly smaller, presumably subdivided, lot. The Stone Paddock Place home has 5 bedrooms and 6 bathrooms.
And though the purchase price of his new Cantitoe Street abode doesn’t necessarily top the list in high-ticket deals, it is noteworthy because of the buyer, whose roster of musical artists touts Amy Winehouse, Black Sabbath, Bloodhood Gang and 3 Doors Down.
During his career, Lipman has worked with The Grateful Dead, Whitney Houston, Hootie &The Blowfish and Jewel, according to industry websites.
He is an ’86 graduate from University at Albany and he and his music executive brother Avery Lipman ’88 delivered the commencement address at the university last month.
This week’s real estate sales update includes a total of 61 multi-million homes, including nine in Rye, eight in Scarsdale and six in Harrison, reports LoHud’s data guru Tim Henderson, who adds there were more than 1,300 new sales in Westchester, Rockland and Putnam.