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Vegas couple buys Cohasset estate for $12.5 million

The Georgian Revival estate, also known as The Oaks.
The Georgian Revival estate, also known as The Oaks.(David L. Ryan/Globe Staff)

A Las Vegas couple has bought the 9.4-acre Roy Estate in Cohasset Harbor for $12.5 million, as well as an additional undisclosed amount for furniture, art, and other items in the 45-room mansion.

Listing broker Christopher Roy said he represented both the seller – his father, Peter Roy – and the buyers, Gerald and Judith Butler.

“We’re really glad that [with] the people who bought it, it will definitely remain a house and not be developed,” Christopher Roy said. “It will be another home for them.”

The Georgian Revival estate — also known as The Oaks — was built in 1932 by the family of Clarence Barron, a native Boston newsman who went on to own Dow, Jones & Company and the Wall Street Journal.

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Members of his family lived there until the early 1980s, when Yankee Oil and Gas acquired the property for its company headquarters.

A developer briefly owned the site next, until Peter and Susan Roy bought it for $3 million in the late 1980s.

According to the real estate listing, the property at 49 Margin St. has 10 bedrooms, 11 baths, 13 fireplaces, a six-car garage, deep water dock, private beach on 1,800 feet of waterfront, tennis courts, a pool, skating pond, wine cellar, billiard room, and pub room. Property taxes in 2018 were $164,000.

“The Oaks not only offers its purchaser the opportunity to own a piece of history, but its purchase creates a legacy,” said Christopher Roy, who grew up in the house. “I’m excited for the Butlers and hope that they and their family enjoy the property as much as my family and I did.”

The property was a shipyard in the 19th century.

The estate has a private beach on 1,800 feet of waterfront.
The estate has a private beach on 1,800 feet of waterfront. (Pat Greenhouse/Globe Staff file)

Johanna Seltz can be reached at seltzjohanna@gmail.com.