Barry Rosenstein, a hedge fund manager, is reportedly buying a three-parcel ocean view property on Further Lane in East Hampton Village for $147 million, according to the New York Post.
Totaling 16 acres, according to Suffolk County records, the three lots at 60, 62, and 64 Further Lane were at one time owned by Christopher H. Browne of Tweedy, Browne Company, who died in 2009.
Mr. Browne left the trust and two limited partnerships controlling the properties to his partner of 10 years, Andrew Gordon, according to reports. Mr. Gordon died in the fall. Since then, real estate agents have been drooling over the potential listing. If confirmed, the deal would be the most expensive residential sale in the country.
Mr. Gordon's estate apparently bypassed brokers and sold the property, with its formal gardens and pond, directly to Mr. Rosenstein. If local brokers had been involved, at the standard 6-percent commission, the sale might have spun off about $9 million for those involved in the deal.
While some brokers are fit to be tied, Htun Han of Hamptons Realty Group in Amagansett, said he celebrated the transaction. “These sorts of buyers can purchase anywhere in the world, and they choose to buy here. It’s encouraging that they have the confidence to put their money here.”
While not actually on the ocean, it is unlikely that anything would ever be built between the lots and the ocean. A narrow, protected, dune-land strip along the beach is owned by the East Hampton Town Trustees, according to tax records.
Mr. Rosenstein runs Jana Partners, which has about $4.5 billion in assets, according to Forbes.