MOUNT DESERT, Maine — A billionaire is tearing down David Rockefeller Sr.’s home on Mount Desert Island to make way for something new.

Danaher Corporation co-founder Mitchell Rales bought the 14.8-acre Ringing Point property for $19 million in January 2018, a year after Rockefeller died at the age of 101.

The property is under ownership of a limited-liability corporation, Ringing Point LLC, which obtained a demolition permit, the Bangor Daily News reported. The town has not received an application for a building permit but it is expected that a new home will be built, the newspaper said.

The seven-bedroom house was designed in 1972 by Rockefeller’s wife, Peggy. The property in Seal Harbor, which is part of the town of Mount Desert, features a granite swimming pool and circular rose garden.

Rockefeller was the son of philanthropist John D. Rockefeller Jr. He was 101 when he died in 2017 in Pocantico Hills, New York. The Rockefeller family has vacationed on Mount Desert Island for generations.

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