Rose Hill Compound in Water Mill hits market at $65M
Brokerage discounts commission on Roger and Susan Hertog’s 13-acre estate
The founder of a major investment firm is trying to sell high in the Hamptons.
Roger and Susan Hertog listed the Rose Hill Compound in Water Mill with Bespoke Real Estate for $65 million, the Wall Street Journal reported. The couple put together the nearly 13-acre estate in the 1990s across five parcels, paying $10 million in all.
The property off Mecox Bay includes a 6,000-square-foot main house with six bedrooms, a guest house, a boat house and a pool house. The primary residence, adorned with a blue facade, dates back roughly a century. It has a covered porch, which overlooks the bay.
The estate also includes a private dock, a heated pool, a tennis court and a garage. It includes 730 feet of frontage on Hayground Cove.
It’s directly across the bay from the Southampton estate formerly belonging to Henry Ford II, which recently sold for $105 million. Australian hedge fund manager Greg Coffey was revealed as the buyer after months of secrecy.
The listing is notable for Bespoke, which is experimenting with a new commission model. Rather than charge the standard 3 percent and splitting the commission with its agent, the brokerage is charging only 1 percent, and compensating its agents by paying them a salary.
Roger Hertog co-founded investment firm Sanford C. Bernstein & Co., which would go on to become AllianceBernstein. Hertog retired in 2006 and has become known as a large donor to conservative and Jewish philanthropies.
In 2019, he and his wife spent $13.2 million for a unit at The Bristol in West Palm Beach. A year earlier, they sold their Palm Beach estate at 10 Blossom Way to hedge funder Ken Griffin for $20.2 million.
A few years ago, the couple shelled out $29.5 million for an 86th-floor unit at 432 Park Avenue. The purchase came out to about $7,334 per square foot.
— Holden Walter-Warner