Billionaire investor’s Sagaponack museum plans nixed

April 28, 2011 11:00AM

Ira Rennert and his Sagaponack spread

Billionaire investor Ira Rennert, owner of Sagaponack’s 66,000-square-foot oceanfront mansion known for being the largest residential compound in America, has been instructed by officials to cease construction of a museum on the 63-acre property. A village building inspector discovered Rennert’s plan to build when he noticed a concrete pumper truck on the property. There has been no attempt to file a permit for any… type of structure,” the village official told the Post. He wants to develop a 10,000-square-foot museum for his $500 million art collection. [Post]

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