In the news this week you will find two stories of men soothing what ails them through extreme retail therapy: that of Friday Night Lights writer Buzz Bissinger, who confessed in the pages of GQ to spending over $600,000 at the House of Gucci in a leather fetish/bondage binge that resulted in him coming to own ‘eighty-one leather jackets, seventy-five pairs of boots, forty-one pairs of leather pants, thirty-two pairs of haute couture jeans, ten evening jackets, and 115 pairs of leather gloves’ and Steve Cohen, who will not be held down by SEC fines topping half a billion dollars or bulls-eyes on his back. On Tuesday it was reported that the SAC Capital founder had picked up Picasso’s Le Rêve for $155 million as “a gift to himself” and now he’s got a place to put it:
Mr. Cohen reached a deal last week to pay $60 million for an oceanfront property on Further Lane in East Hampton, on Long Island, according to a person with direct knowledge of the sale. The home, which was listed for sale late last week, is down the road from one he already owns.
And while there was supposedly a real need to buy the second Hamptons house (the first one does not have an ocean view, being obstructed by Jim Chanos’s manse), and Le Rêve is nice to look at, he could have bought the house and painting at any time. These purchases were clearly one part “pick-me-up,” two parts “fuck all y’all.” Which raises the question: Read more »
Cass Almendral has been having himself a great summer — and he owes it all to his house. Half a mile from the Southampton train station, his eight-bedroom, $4 million 1890s farmhouse, complete with a pool and hot tub, has been the site of many a summer bash. But it’s done more than just serve as a party castle. It’s given Almendral his cachet with the ladies. “If you own a house, you’re at a huge advantage,” he says. “That’s why I’m single. Every summer I can have a huge adventure.” “I’ve had girls who’d take the bus over and linger around, then have sex with anyone who had a house,” says Almendral, the 50-year-old managing director of the Wall Street Solutions Group Inc. “They weren’t hookers. They got by through the kindness of strangers . . . they see the Hamptons as an adventure that’s also a safe, luxurious experience.”…Newbies on the city scene are quickly initiated into the game. “Some girls will pressure girls who are new to the city to be friends with a certain guy because of his Hamptons house,” says a 25-year-old woman who works at an investment banking firm. “It’s an overarching theme of the summer — find a guy with a home and date him.” [NYP]
The 6 months or so have not been the best of times for hedge fund manager Phil Falcone. The returns in Harbinger’s flagship have not exactly mimicked the highs of 2007, investors got their panties in a bunch when he borrowed $113 million from one of his funds (where redemptions had been frozen) in order to pay personal taxes, he had to put up his art collection as collateral to borrow even more cash, the deal that could make or break him has run into some bumps that include fucking things up in outer space and the same ingrates who gave him shit for locking up their money are getting all pissy because instead of giving them back actual cash, they’re getting illiquid shares of LightSquared. What’s more, construction on his Hampton’s home is still months and months away from being completed and it was looking like Phil was going to have to break the bad news to the Wilbur, the Falcone’s singing and dancing pig, that there’d be no getting wild at the Pink Elephant this summer. Already Wilbur had been dropping some not so subtle hints that most pigs of his talent wouldn’t have stuck around this long and that he had “options,” so it was a conversation Phil was not looking forward to. And then, out of nowhere, luck came a knocking on Phil’s front door. Read more »
As the Appaloosa manager may have his hands tied at the moment, we’re happy to pass it on.
Subject: HOW DO YOU LIKE ME NOW? Read more »
Planning on getting out of town most weekends the next few months but not going points further than a 300 mile radius? Perhaps out East, on Shelter Island or Martha’s Vineyard? If you answered yes, please be sure transport doesn’t involve helicopter or, god help you, a car, because roads as a means of transport have been declared “over.” Read more »
Christopher Burch is a venture capitalist (and ex-husband of designer Tory Burch) who’s got a Southampton vacation home and a dream: to build a 10-foot tall, 16-foot wide TV in his backyard. The contraption- which will be designed to last at least a decade, be positioned so it’s in view of the master bedroom, and come outfitted with a remote-controlled door in the event of rain- is so big Burch must gain approval from a zoning board, which his neighbors are trying to block. They’re pissed, as people tend to get over such things. “I’m totally against it,” shared Jonathan Foster. “It’s a shame when people have that kind of money,” Keith Tuthill said. Their fury, however, is misplaced. What their gears should be grinded over is the story Burch is trying to feed them re why he needs this TV.
Scott Casselman, a rep for the screen’s maker, Multimedia LED, insisted that the TV will not be used to create the ultimate man-cave — it would be put solely to the highbrow pursuit of displaying images of famous art works.
RIGHT. Read more »
Last March, we got a glimpse into Erin Callan’s post-Lehman life. It included living in East Hampton in the house she bought for $3.9 million in 2005, dating firefighter Anthony Montella, who she met in high school at St. Francis Prep, taking spin classes at Ride the Zone, where her instructor said she’s “the best student in the class” and looks “so great on her bike,” and just generally looking happy and “better than ever,” likely a result of 1) getting laid on the reg and 2) the fact that she’s been working on her ass, an effort that has apparently not gone unappreciated.
What’s she been up to of late? A lot of the same, though things with The Firefighter seem to have been taken to the next level. John Carney did a little investigating and reports that Erin is featured in Tony’s Facebook and Twitter profile pictures (so huge!); it also appears as though they’ve moved in together. Montella, for some reason, posted pictures of the love nest they’ve been co-habitating in on the internet, including one of where the magic happens. Read more »
Yesterday we mentioned newly divorced single mom Cheryl Mercuris, of the Tampa Bay Mercurises, was looking for a new husband. To that end, she’d invested her (own) money (she’s a “direct marketing entrepreneur”) in a $250,000/week rental in Bridgehampton. At the time, any of you scoffed at this flagrant waste of money but Cheryl, a “a self-made millionaire” knew you gotta spend money to make money. And following yesterday’s personal ad in the Post announcing her presence out East, Single and Ready To Mingle reports the plan is paying off in spades. Read more »
Cheryl Mercuris, of the Tampa Bay Mercurises, is a recently divorced mother who you can find out in the Hamptons for the next two weeks. She’s looking for a new husband, and lest you think she’s not serious about this task, Mercuris has made a sizable investment in her future, by renting out a home in Bridgehampton for $250,000 a week. Cheryl loves the men she’s met so far (she’s been “mingling with hedge-fund managers and Wall Street lawyers”) because unlike the bums in Florida like, a certain xay usbandhay of hers, these guys are very “career-oriented.” She says she’s not on “a mission” or anything like that but in the event you’re interested, here are the relevant details: Read more »