The $43.5 Million Teardown – Now you see it, now you don’t! – Ventura Real Estate

by Gary and Lisa Schoeffler on June 7, 2011

in Latest News

Now You See It, Now You Don’t: The $43.5 Million Teardown

Say you buy a $43.5 million, 6,000-square-foot oceanfront estate on 6.5 sandy acres in Sagaponack, Long Island (the country’s most expensive zip code, according to BusinessWeek). What’s the first thing you do? Well, if you’re hedge fund billionaire David Tepper, you tear the thing down — along with the guesthouse, swimming pool and tennis court — to build an even bigger manse.

According to Southampton Patch, Tepper bought the home last year from ex-wife of former New Jersey governor Jon Corzine, in the area’s most expensive transaction of 2010. In April, he got a permit for the demolition, and yesterday, the site was finally cleared.

The new house will be about twice the size, with ocean views from every room, “a sunken tennis court, three-car garage, a widow’s walk, second-floor decks including one with a Jacuzzi, and a covered porch,” reports Hamptons Curbed, quoting the minutes from a recent town board meeting at which the construction was reviewed.

Wow, dramatic photo. Didn’t quite look like a tear down to us….

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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