East Hampton Home Sells for Record $147M
Activist-investor snaps up mansion
By Polly Davis Doig, Newser Staff
Posted May 4, 2014 9:30 AM CDT
This undated file photo shows Main Beach in East Hampton, NY. An estate on 60 Further Lane reportedly set a record sale price at $147 million.   (AP Photo/KKM Photo, file)

(Newser) – In the market for a modest little beach house on Long Island? Why don't you paw through your couch cushions and see if you come up with $147 million, because that's what you'd need for the East Hampton beach estate that just sold to hedge fund manager Barry Rosenstein in what's now the nation's most expensive residential sale, reports the New York Post.

The 18-acre estate has the usual—formal gardens, a pool, a pond, and a backstory. It was the home of financier Christopher H. Browne and his partner, architect Andrew Gordon, to whom Browne left the majority of his estate when he died in 2009. But Browne's family challenged the will, and a deal was worked out to allow Gordon to live on the estate for the rest of his life; when he died of cancer at age 52 in September, Browne's family immediately looked to unload the property. They did so without the help of a real estate broker, notes the Post, which has photos of the posh digs here.

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Showing 3 of 28 comments
Lefty_Libby
May 5, 2014 3:40 PM CDT
I remember when the Hamptons were still a lot of farms, and you could walk onto most of the beaches for free. A Sunday drive to Montauk Point was a common relaxation activity for Long Island residents in the summer. Ahhh...the good old days.
Grokthat
May 5, 2014 7:33 AM CDT
With rising sea levels, you got wonder about the investment going underwater. No doubt, it will sub-divided and quickly sold off for a nice return.
bruno937
May 4, 2014 9:21 PM CDT
See, no point being bigoted, freaking out about gay couples destroying marriage values. They simply disappear into thin air like these two did, even with all the money in the world. Nature/God knows best.