The Real Deal New York

A former investor for George Soros is offloading this pricey Hamptons home

The asking price is $23M
February 27, 2019 05:00PM

Scott Bessent and 354 South Main Street in the Hamptons (Credit: Getty Images and Sotheby’s)

One of the key moneymakers for billionaire George Soros wants $22.5 million for his historic Hamptons mansion.

Sotheby’s International Realty’s Harald Grant has the listing, the Wall Street Journal reported. The seller of the Southampton property, which dates back to the 1880s, is Scott Bessent, who served as chief investment officer for Soros’ $30 billion family office until 2015. He founded Key Square Group, a hedge fund, in 2016.

Bessent bought the property — known as Wyndecote at 354 South Main Street — for about $9.95 million in 2012, the report said. He restored the property and is selling because he plans on working from his London office.

The pricey listing comes as the sales market slowdown has seeped into the Hamptons. In the fourth quarter, the market saw a 35 percent decline in sales versus a year earlier, according to Douglas Elliman. At the same time, listing inventory surged 81 percent.

The home spans nearly 11,000 square feet across three floors and has 10 bedrooms. It also features several covered porches. During the restoration process, the foundation was replaced and a basement level was added. It boasts a wine cellar, a gym and a home theater — and the home also has a pool house and swimming pool.

The property was designed by architect Robert Henderson Robertson, who is also known for designing Southampton’s original Rogers Memorial Library. [WSJ] — Meenal Vamburkar