El Presidente has a new palace from which to rule.
Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.
This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported
Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.
The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes.
The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel.
Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.
He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post.
At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.
He’s also fond of buying beach homes.
In 2022, he bought a beach house in the Hamptons for $9.75 million.
The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.
Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.
In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.
That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.
— Ted Glanzer