E-commerce retailer Michael Rubin is the buyer of a $50 million Hamptons mansion sold last month by HFZ Capital Group’s Ziel Feldman.
Rubin, a billionaire co-owner of the Philadelphia 76ers, has been on a luxury real estate shopping spree in recent years, Page Six reported. In 2018 he paid more than $40 million for a downtown Manhattan penthouse at 160 Leroy Street, a record price for below 14th Street.
Feldman built the 8,000-square-foot-house in 2014. It has seven bedrooms, four bathrooms and a pool.
The sale of Feldman’s manse comes as his firm grapples with lawsuits alleging unpaid bills and defaulted loans at its condo projects. During the upheaval at the firm, Feldman’s former business partner, Nir Meir, abruptly departed the firm, and one of HFZ’s lenders was seeking to oust Meir from his Hamptons home.
In November, Feldman listed his penthouse at the Marquand condominium for $39 million.
Rubin dropped out of Villanova University and started GSI Commerce, which he sold to eBay in 2011 for $2.4 billion, but kept sports merchandise company Fanatics as well as Rue Gilt Groupe and ShopRunner in the deal, according to Forbes, which estimates his net worth at $3.5 billion.
[Page Six] — Georgia Kromrei