Murdoch Puts Long Island Estate on Market

Add billionaire Rupert Murdoch’s 19-room Colonial to the growing list of mansions for sale on New York’s Long Island.

Media mogul Murdoch has reportedly put his home on the market for a reported $14.8 million. That’s nearly double the almost $7.8 million that Murdoch and his wife paid for the 4.5-acre estate four years ago, sources stated.

It’s also remarkably high considering the up-market competition is very tight.

News sources reported at least six other estates with more than $5 million asking prices are on the market in Centre Island. One of them belongs to single Billy Joel, and he’s asking a reduced price now of $32.5 million.

Murdoch, who owns homes around the world, will reportedly be listed with Daniel Gale Sotheby’s International Realty.

Story Continues Below

Editor's note:
Expert: Residential Real Estate Will Fall 20% to 40% -- Go Here Now
Try Intelligent Options for $99. Our lowest price ever.
Buffett: The best book ever written on investing.

 Street Talk Stories

  High-Yield Muni Funds Fall From Grace
  Mortgage Job Losses Surpass 38,000
  Mortgage Crisis Widens at Lenders, Banks
  FDIC Keeping Close Eyes on Markets, Banks
  Fed Optimistic It's Bought Time
  International Travel Surge Incites Online Battle
  Fed Seen Cutting Rates on Sept. 18 — Poll
  Harvard's Endowment Hits Nearly $35 Billion
  Bush Tries to Calm, Reassure Investors
  Fed Ready to Use All Tools to Calm Market
  Financial Job Cuts Soaring on Housing Woes
  Wall of Money Hovers Over Financial Markets

115-115