Hedge Funder’s $43.5M Hamptons House Is A Tear Down
2:29 pm, June 2nd | by Hillary Reinsberg
A $43.5 million, Hamptons waterfront home isn’t enough for hedge fund billionaire David Tepper – it’s a fixer upper. Tepper, who runs the hedge fund Apaloosa, which manages $12 billion, threw down $43.5 million for waterfront digs in the ritzy Sagaponack neighborhood of the Hamptons. It was the most expensive Hamptons purchase of 2010.
But alas, in 2011, Tepper won’t get much use out of the 6,165-square-foot home and its ocean views – he’s torn it down, according to Curbed Hamptons. Yes, 6,165 square feet is large, but by billionaire Hamptons standards it’s, well, not up to snuff. Ron Baron’s new house out East is slated to be around 28,000 square feet, Ira Rennert’s is an absurd 110,000 square feet, and so on. Tepper is predictably building a house that will be twice the original size. Southampton Patch reports that Tepper purchased the house from none other than former New Jersey governor and former Goldman Sachs CEO Jon Corzine.
It’s a surprising move for Tepper, who’s known to be a little more low key. He raised his kids in a relatively modest home and even (gasp) enrolled his offspring in the public school system.
We wonder if Corzine’s offended that fellow Jerseyite Tepper didn’t dig his digs. But with $3.5 billion under his belt, Tepper probably doesn’t give a crap.
(Photo Credit: Cully/EEFAS via Southampton Patch)