Whether you're in the market for a house in Southampton or not, consider making him an offer. Things have been tough lately and he could probably use the cash.

Phil Falcone, the billionaire founder of Harbinger Capital and LightSquared, and his wife, Lisa Marie, have listed 36 acres they own in Water Mill, on Deerfield Road, for $7.995 million. The land is made up of two 2-acre building parcels and a 32-acre reserve. Each lot has room for a large home, pool, pool house and tennis court, and the preserve can be used for a horse farm.

Falcone Hawks [NYP]