American entrepreneur George Zimmer is selling his oceanfront estate located at the Big Island of Hawaii for $35 million. It was said that Zimmer, former chief executive of Men's Wearhouse, is selling his luxurious residence because he just bought another property that previously owned by popular singer Neil Young in the same area, a report from Los Angeles Times said on Thursday.
"The 7.45-acre Kohala Coast property Zimmer is selling has more than 1,000 feet of ocean frontage. The estate centers on a 10,000-square-foot main house with seven bedrooms, seven full bathrooms and two powder rooms. The doors, windows and trim are all teak," the report said.
It was said that Zimmer spent $20 million to buy Young's estate that sits on a three-acre lot. The property has a "Hawaiian-style main house, two guest cottages, two greenhouses and a swimming pool with a poolhouse."
According to the report, Zimmer's real estate property for sale was designed by Big Island famous architect Lucky Bennett. The beachfront palatial mansion "features a media room, a billiard room with a wet bar and an exercise room that open to an oceanfront swimming pool and spa. Expansive lanais extend the living space outdoors."
The whole property is said to be surrounded by "mature palms, heliotrope trees and natural and man-made ponds grace the property. The gated compound is made up of 10 parcels of land with underground utilities." The property is being handled by listing agents Robert Chancer and Steve Huwitz of the Mauna Kea Realty.
"George Zimmer is an American retail entrepreneur who has a net worth of $150 million. George Zimmer made his fortune as the CEO and Founder of the popular clothing chain The Men's Warehouse. Zimmer founded the company with some college roommates in 1973 in Houston, Texas," according to Celebrity Net Worth.
"As of June 2013 Zimmer owns 3.6% of the outstanding Men's Wearhouse shares, which is worth roughly $66 million. Back in 1997 he owned as much as 15% of the company and in the last decade he has sold $80 million worth of shares according to SEC filings made by the company," the report said.
