The Real Deal New York

Hedge-funder Scott Bommer to pay $94M for Hamptons site

Head of SAB Capital also looking to sell Wooldon Manor for $98M
March 21, 2014 09:43AM

Scott Bommer, founder of hedge fund SAB Capital, is in contract to acquire three East Hampton parcels for $93.9 million. If the purchase goes through, it would be one of the all-time priciest deals in the Hamptons market.

The prospective deal arrives on the heels of Bommer’s $75 million purchase of the 14.5-acre Wooldon Manor last year from fashion mogul Vince Camuto. That acquisition was officially the priciest one in the Hamptons for the year. Bommer has already listed Wooldon Manor for $98 million, with Tim Davis of the Corcoran Group and Sotheby’s International Realty brokers Harald Grant and Ed Petrie, the Wall Street Journal reported.

The 6-acre lots on Lily Pond Lane include a white house and a vacant lot. Vista Capital’s Maurice Cunniffe owns two of the lots, while telecom executive Allen Salmasi owns the third.

Bommer notably set a record in 2008 by flipping a Carnegie Hill co-op unit at 1060 Fifth Avenue for a whopping $48.9 million. He sold a co-op at 1040 Fifth Avenue to Related Companies CEO Jeff Blau  for $21.4 million that same year. [WSJ]Mark Maurer