Bloomberg Adds To East End Property Holdings

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Mayor Michael Bloomberg’s office released his redacted tax return on Thursday, May 23, substantiating rumors that he added two new properties to his $20 million Ballyshear estate in Southampton.

According to politicker.com, the tax returns indicated that Mayor Bloomberg purchased a home and 4.8 acres of vacant land, the only details being that they cost upward of $500,000. The two new properties are adjacent to his 11-bedroom, 22,000-square-foot, Georgican-style mansion, which sits on 35 acres on Whites Lane in Tuckahoe. Ballyshear lies next to the Tuckahoe Swamp preserve and shares a border with 35 acres of Southampton Town-protected land.

According to published reports, the two most recent acquisitions were made in May 2012 and are in addition to the dozen other homes Mr. Bloomberg owns worldwide. The main East End estate, Ballyshear, was originally purchased by the mayor in July 2011. At that time of purchase, the bulk of the property contained up to six parcels, to which he added the 4.8 acres last year.

Although Mayor Bloomberg accepts a salary of only $1 a year from New York City, Forbes.com estimates him to be worth approximately $27 billion. Forbes.com also ranks Mr. Bloomberg as the 13th most wealthy billionaire in the world and the seventh most wealthy billionaire in the United States. Bloomberg Businessweek, owned by the mayor, reported that in 2012 the mayor donated $370 million to charity.

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