A hedge fund supervisor nicknamed the “Wizard of Oz” enchanted his means right into a near-record setting actual property deal within the Hamptons late final 12 months, in response to a brand new report.
Australian hedge fund supervisor Greg Coffey, 50, was revealed to be the client behind the $105 million buy of the Fordune property in Southampton in late 2021, some of the costly properties ever bought within the space, in response to the Wall Road Journal.
Whereas among the many costliest Hamptons offers on document, the $105 million closing worth was considerably wanting the compound’s unique $175 million asking worth, the Journal reported.
The deal was brokered by Bespoke Actual Property and Julia B. Charge Sotheby’s Worldwide Realty, in response to the Journal.
The 20,000-square-foot, 12-bedroom residence was constructed for auto mogul Henry Ford II within the Sixties and sits on 42 acres with ocean entry. The grounds include 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 bought off.
The house was first listed in 2017 by portfolio supervisor Brenda Earl. On the time, it was the most costly property on the market within the Hamptons.
The famous person investor rose to prominence as a dealer with GLG in London earlier than turning 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 lately bought a $50 million Higher East Aspect townhouse from actual property developer David Levinson in 2021, in response to 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 because of Coffey’s choice to shut the property’s public grounds.