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
East Hampton Home Sells for Record $147M
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)

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. (More real estate stories.)

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