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February 9, 2018

David Rockefeller estate sells for $19 million

Courtesy / The Knowles Co.
Courtesy / The Knowles Co.
The seven-bedroom 5,000-square-foot, year-round home of David and Peggy Rockefeller in Seal Harbor known as Ringing Point sold for its asking price of $19 million.

The Knowles Co. of Northeast Harbor sold the summer home of the late billionaire philanthropist David Rockefeller Sr. on Mount Desert Island for $19 million, the real estate company announced on its website.

Proceeds of the sale, which went for the asking price, will go toward charitable bequests made in Rockefeller's will.

Knowles' spokeswoman told The Associated Press that a limited liability corporation assumed ownership of the 14.5 acre property at the Feb. 2 closing. She declined to identify the buyer.

David Rockefeller, an American banker who was chairman and chief executive of Chase Manhattan Corp., was the oldest living member of the Rockefeller family and family patriarch from August 2004 until his death in March 2017 at the age of 101.

His late wife Peggy designed the seven-bedroom 5,000-square-foot, year-round home known as Ringing Point in 1972 and oversaw the landscaping on the property, which includes meandering grass pathways and flanking flower gardens. The property served as their summer residence and offered vistas of the ocean and outer islands, according to The Knowles Co.'s listing that characterized it as a "true legacy property on the Maine coast."

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