.

House Sells for Record Breaking $147 Million in East Hampton Without Broker

Photo by Rob Grambau
Photo by Rob Grambau

An 18-acre estate in East Hampton has been snapped up for $147 million, according to the New York Post.

This sets a new record for the highest priced residential sale in the country (the previous record, set just two weeks earlier, was $120 million for the 50-acre Copper Beech Farm in Greenwich, CT). Christopher H. Browne, former managing director of the Tweedy, Browne Company investment firm, and his partner, architect Andrew Gordon, previously owned the beachfront property on Further Lane, which includes multiple gardens and ponds.

Houses with “For Sale by Owner” signs out front tend to be on the market at more modest price points. But, this sale was accomplished sans the assistance of real estate agents. Browne's family was able to sell the property on its own, leaving in its wake a line of not very happy brokers.

The Post, which had originally identified the estate’s new owner as a “mystery buyer,” later reported that it is in fact Barry Rosenstein, hedge fund manager of Jana Partners.

Before Rosenstein’s outing as the new lord of the Further Lane manor, Gothamist speculated (tongue in cheek) on who it might be, floating such names as Scrooge McDuck, the Ghost of Stonewall Jackson, and Zuul, the demonic spirit from the 1984 film comedy “Ghostbusters.”

Joe Burns May 05, 2014 at 08:23 AM
So, if the calculator above is correct, with 20% down and fixed rate of 4.07% anyone can have it for $713,263 per month for 30 years.......I have a feeling the record won't stand for long..
Jon Schoen May 05, 2014 at 08:33 AM
pillpoppinpuppy, The mansion tax is 1% that goes to the state, the CPF tax rate is 2% and goes to East Hampton Town. So, the Town will get $2,940,000.00 for the CPF.
oonald May 05, 2014 at 09:19 PM
No wonder the rich wall streeters love Obama they are making tons of millions. Like a very rich hamptons elite told me two years shut up and leave that idiot right where he is we are making millions and millions. Gee Obama from the middle up and get lots of people out of poverty, yeah I don't think so!!! Ps where are all the Wall Street occupiers????
Daniel Padovano May 05, 2014 at 10:24 PM
The CPF tax should help with any budget gap!
John Anderson May 06, 2014 at 12:55 AM
Love it that the greedy brokers were cut out.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something