Harvey Weinstein Sells Side-by-Side Properties in Westport, CT, for $16M

Jim Spellman/WireImage; realtor.com

It looks like disgraced movie mogul Harvey Weinstein has a new money-making scheme. He’s selling property at a fever pitch.

His latest transaction got him out of his homes in Westport, CT, where he sold side-by-side waterfront homes on Beachside Avenue for a total of $16 million. The buyer, Andrew Bentley, also owns other parcels nearby, including a home once owned by Phil Donahue and Marlo Thomas.

The desire to own more prime property on the road—apparently Bentley now owns six homes on the same street—must have outweighed the “ick factor” of buying from Weinstein.

One property is a 1909 Colonial with 8,800 square feet of living space, including six bedrooms and nine baths. Weinstein had purchased this property in 1994 with his first wife, and became full owner when they divorced in 2004. That 2.38-acre compound, site of fundraisers for Barack Obama and Hillary Clinton, was sold for $10 million.

26 Beachside Ave.

Google Maps

The other property, a 1900 Cape Codder on 3.33 acres, was purchased by Weinstein for $4 million in 2000, and apparently left vacant. It was sold for $6 million.

Weinstein’s “Plan B worked out for him,” says Dolly Lenz, a New York–based luxury real estate specialist. “He had a great eye for property, and it was a great a long-term investment.”

She pointed to the “irreplaceability” of luxury properties such as waterfront homes, which “makes it a long-term gold property.”

The disgraced movie producer is ostensibly in need of some lucre.

He was ousted from the Weinstein Company, which he co-founded, after charges of sexual harassment and abuse over decades were made public last fall. Since then, more than 60 women have come forward with claims against the 65-year-old.

The company has declared bankruptcy, and Weinstein is reportedly receiving addiction treatment in Arizona. He faces looming expenses due to attorneys’ fees from multiple lawsuits and criminal investigations, and divorce settlements with his current wife, Georgina Chapman (with whom he is separated), and his ex-wife.

So it makes sense that the New York native would want to liquidate his real estate portfolio. Not that it’s been an easy process.

Hamptons home sells at a discount.

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As we reported earlier this year, the former movie mogul sold his Hamptons mansion for $10 million—or $1.4 million less than what he paid for it in 2014, and $3.5 million less than the list price last year.

Compo Beach home sells after price slash.

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Weinstein also let go a “prime Compo Beach property” in Westport for $1.65 million in October. The Mid-Century Modern abode, built in 1953, offers four beds, three baths, and 3,000 square feet of living space. That price was heavily discounted from the $2.25 million he was seeking six months before.

However, given that the New York Times story of sexual misconduct claims broke around the date of the sale, the timing likely made Weinstein a motivated seller.

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