$650K and No Club House Yet

Bloomberg spills on the latest golf club in the Hamptons, Sebonack. Membership costs $650,000, with yearly dues running at 12 grand. What's that get you?

They will have access to a yet-to-be-built 28,000-square-foot clubhouse and a 19th hole with a green rather than barstools; it's a par-3 constructed especially to break ties and settle wagers.

So you won't really have a club house for a while. Still, that hasn't stopped the founding members from ponying up $1.5 million each. According to DealBook the founding members include:

Stanley Druckenmiller, chairman of Duquesne Capital Management; Richard Santulli, chief executive of NetJets of Woodbridge, N.J.; Paul Desmarais Jr., chairman of the Power Corporation of Canada; and Johann Rupert, chief executive of Cie. Financiere Richemont of Geneva, the world’s second-largest luxury-goods company.

Hamptons' Newest Golf Club Has Priciest Membership at $650,000 [Bloomberg]

Wall Street Tees Up at New Club in the Hamptons [DealBook]