A hedge fund supervisor nicknamed the “Wizard of Oz” enchanted his approach right into a near-record setting actual property deal within the Hamptons late final 12 months, in line with a brand new report.
Australian hedge fund supervisor Greg Coffey, 50, was revealed to be the customer behind the $105 million buy of the Fordune property in Southampton in late 2021, one of the crucial costly properties ever offered within the space, in line with the Wall Avenue Journal.
Whereas among the many most costly Hamptons offers on file, the $105 million closing value was considerably wanting the compound’s authentic $175 million asking value, the Journal reported.
The deal was brokered by Bespoke Actual Property and Julia B. Charge Sotheby’s Worldwide Realty, in line with the Journal.
The 20,000-square-foot, 12-bedroom dwelling was constructed for auto mogul Henry Ford II within the Nineteen Sixties and sits on 42 acres with ocean entry. The grounds comprise a carriage home, a 60-foot-long pool, a tennis court docket and a basketball court docket. When the Ford household used the property it contained almost 200 acres, however parcels have since been offered off.
The house was first listed in 2017 by portfolio supervisor Brenda Earl. On the time, it was the costliest property on the market within the Hamptons.
The celebrity investor rose to prominence as a dealer with GLG in London earlier than changing into co-chief funding officer for European enterprise at Moore Capital Administration. In 2012, he introduced his retirement at age 41 and returned to Sydney, earlier than rising in 2018 to announce he would launch a brand new fund based mostly in London.
Coffey additionally not too long ago bought a $50 million Higher East Facet townhouse from actual property developer David Levinson in 2021, in line with the Journal.
Among the many different estates owned by Coffey is the Ardfin property in Scotland, a sporting property the hedge fund supervisor bought in 2010 that attracted some controversy as a consequence of Coffey’s choice to shut the property’s public grounds.