David Tepper to Tear Down $43.5 Million Hamptons Mansion

$43.5 Million Tear Down

Hamptons, New York, United States

Cully/EEFAS via Southampton Patch
Update: As of June 2, 2011, the Hamptons Mansion has been razed.

Originally listed at $50 million, Hedge Fund manager David Tepper purchased this grand Hamptons Estate last year for $43.5 million.  It was previously owned by Joanne Dougherty, the former wife of Jon Corzine, once a Senator, Governor and Mayor of New Jersey.  It’s set on approximately 6 acres with oceanfront and includes huge marble bathrooms, a tennis court, swimming pool, large windows overlooking the incredible ocean views and reportedly rents for $900,000 each summer season.  What’s not to love?  It seems the new owner, David Tepper, just isn’t impressed with his $43.5 million purchase.

He plans to tear down the 6,165 square foot estate and make way for a NEW 11,268 square foot home.  Architect Jaquelin Robertson says the new home will be a cedar shingled two story Georgian Colonial style home and will feature a sunken tennis court, three car garage, second floor decks featuring a jacuzzi and a covered porch.  Tepper is 53, and has three children with his wife, Marlene who currently live in Livingston, New Jersey.  The possible reasoning for this disgusting demolition could be that a “sand dune” interferes with the current first floor views.  The demolition has already been approved but the permits on the new structure are currently pending.

Price: Was $50,000,000 – Sold $43,500,000
Size: 6,165 Sq. Ft.
Bedrooms: 6
Bathrooms: 5
Speciality Items: Formal Dining Room, Home Gym, Heated Pool, Tennis Court, Marble Bathrooms, 6 Acres, Oceanfront.
Address: Hamptons, New York, United States

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