Too garish for David Tepper.
It must have seemed like an eternity to SAB Capital Management founder Scott Bommer: Owning a 6.4-acre oceanfront estate in East Hampton for almost two whole years. Boring as that sounds, the extra time may have paid off: Bommer has sold his three Lily Pond Lane parcels for $110 million, earning him a tidy 17% profit and second-place on the all-time Hamptons list. When he sold his last Hamptons estate in 2014 after just seven months, he had to settle for a mere 7% gain. So he’s definitely getting better at the house-flipping game, which is good, because he’s given up on the hedge-fund game, at which he was getting worse.
It is the second-most expensive purchase in the Hamptons — the first was activist investor Barry Rosenstein’s $147 million purchase of an 18-acre East Hampton property, as The Post reported exclusively.
If the Lily Pond Lane sale closes, it will be the fifth-most expensive residential purchase in the country….
The three properties, including 284 feet of oceanfront, are on 6.4 acres.
Hedgie selling his Hamptons properties for $110M [New York Post]