An Islesboro house that was on the market for $10.9 million has been sold to the founder of an athletic footwear retailer.

The Froggery, which sits on 15 acres overlooking Penobscot Bay and comes with a separate tea house, was sold in a no-reserve auction to Tom Raynor, who founded Fleet Feet Sports in North Carolina. The price was not immediately disclosed.

The 8,000-square-foot house had been owned by John Blin, a Wall Street executive, who started construction on the hillside site in 2005. The house has three bedrooms and three baths and includes the tea house, a koi pond, Japanese gardens and traditional Japanese Tori gates, which are usually used to mark the entrance to a shrine. The house was sold with furnishings, including art and two grand pianos.

Raynor said he plans to sell his nine-bedroom, 8,900-square-foot house in North Carolina, buy a smaller house there and spend more time in Maine. He said he’s been a part-time resident of Mount Desert Island for 25 years, according to a media release from Acadia Cornerstone Real Estate in Bar Harbor, which represented him in the June 25 auction.

Blin put the house on the market for $10.9 million and it was considered the most expensive property in Maine for sale this year. Blin decided to move to Hong Kong, saying Asia now represents the future of the financial world.

Raynor bought Fleet Feet when it was a small, two-store athletic shoe and apparel retailer in 1992. He sold a controlling interest to Investors Management Corp. in 2012 for an undisclosed amount. At the time, the chain had 94 stores in 33 states and annual sales of more than $100 million.

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