Exclusive | Claudio Del Vecchio’s former Long Island home asks $10.75M | Real Estate Market Insights

A 110-year-old Great Gatsby-esque property — as soon as owned by an Italian billionaire who headed Brooks Brothers when it filed for chapter during the pandemic — has hit the market for $10.75 million, Gimme Shelter has discovered.
The vendor, Mehmet Sengulen, purchased the gated Long Island trophy property in Muttontown from Claudio Del Vecchio and his spouse Debra for $7.3 million in December 2024, according to data, and then totally renovated and restored it.
Sengulen told Gimme he deliberate to maneuver in along with his spouse and 4 children, however his kids are “very connected to where they grew up,” just 20 minutes away.
“It’s a unique situation,” he said.
Claudio Del Vecchio. Getty Images
An aerial picture exhibits the expanse of the grounds. Nest Seekers International
Striking touches inside embrace a huge dwelling space with vaulted ceilings. Nest Seekers International
Wooden particulars lengthen into the large chef’s kitchen. Nest Seekers International
A windowed eat-in space. Nest Seekers International
Del Vecchio — whose estimated net worth is $7.4 billion, according to Forbes — was the chairman, CEO and proprietor of Brooks Brothers Group, Inc., which filed for chapter in September 2020. He had purchased the company for $225 million in 2001.
Claudio’s father, the late Luxottica eyewear mogul Leonardo Del Vecchio, was Italy’s second richest man when he died in 2022, according to studies, proudly owning manufacturers like Ray-Ban, Sunglass Hut and Oakley. Today, EssilorLuxottica is the world’s largest eyewear company.
Built in 1916, the gated mansion sits on 8.1 acres behind 15-foot-tall gates, said itemizing broker Shawn Elliott, of Nest Seekers International.
Inside, the 12,058-square-foot home options 9 bedrooms, eight baths, 4 powder rooms, seven fireplaces, a wine cellar and a paneled elevator.
The hanging interiors embrace formal dwelling and eating rooms with authentic moldings and millwork — and a paneled library with a woodburning fire.
The wood-paneled library appears to be like plucked from a Brooks Brothers campaign. Nest Seekers International
A wine cellar affords tons of space for storage. Nest Seekers International
A proper dwelling space comes warmed by a fire. Nest Seekers International
A fire also graces this bed room. Nest Seekers International
Meanwhile, a children’ bed room comes with space to play. Nest Seekers International
A home workplace space. Nest Seekers International
The indoor pool is situated proper next to the health club. Nest Seekers International
Plush seating appears to be like out to the main pool. Nest Seekers International
The tennis courtroom. Nest Seekers International
There’s moreover a charming backyard on the grounds. Nest Seekers International
Resort-style facilities embrace an indoor pool, a health club and a panic room.
Outside, there’s another pool plus a tennis courtroom with lighting, a placing inexperienced, a kids’s playhouse and charming English walled gardens.
Real Estate Market Insights
Understanding the Real Estate Market
The real estate market is one of the most highly effective wealth-building industries in the world.
It entails the shopping for, promoting, and management of properties—starting from residential houses to business buildings and investment land.
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There are a number of the explanation why real estate stays a profitable investment avenue.
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When the price of items and companies will increase, property values and rental costs sometimes rise as effectively—serving to traders protect their buying energy over time.
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How to Make Money from Real Estate
There are a number of methods to earn from the real estate market.
Investors should buy properties to rent out, incomes constant month-to-month income while the asset’s worth appreciates.
Others give attention to property flipping—buying undervalued houses, renovating them, and promoting for revenue.
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Whatever the methodology, success in real estate requires research, persistence, and an understanding of market cycles.
Monitoring developments such as rates of interest, location growth, and housing provide helps traders make better shopping for and promoting selections.
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