$90 million home sets US property record

[CVX]

I've been to the Hamptons. Highly overrated. It's close to the big money in NYC. I'm glad these New Yorkers are not familiar with the Carolinas, The Ozarks, The Pacific Northwest, or the Wilds of the South.

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A 40-acre estate in the Hamptons - the Long Island summer retreat of New York's rich and famous, has been sold for $US90 million, a new US record for a residential property.

The New York Post cited sources close to the deal as saying the purchase was made by a Swedish industrialist who has rented the estate for the past few summer seasons.

Owned by Adelaide de Menil Carpenter, heiress to the Schlumberger oil company fortune, the property's main residence is relatively modest - a three-bedroom, three-bath farmhouse.

However, the estate includes a two-bedroom caretaker's house, two guest houses, several acres of tillable farmland, a fully stocked man-made fishing pond, a lap pool and, most importantly, a substantial stretch of private beachfront.

The sale nearly triples the previous Hamptons' record of $US32 million that Seinfeld star Jerry Seinfeld paid for singer Billy Joel's mansion in 2000.

The Post said it also eclipsed the US record of just under $US70 million that New York billionaire Ronald Perelman paid for a mansion in Palm Beach in Florida, last year.

[Tombstone]

I would have liked to have been the Realtor for this transaction. Wow!