A BofA I-Banker Is In A Real Estate Brawl Over The Hamptons Home He Shared With "Today" Reporter Jill Rappaport

jill rappaport today

Photo: AP

Investment banker Richard Swift and Today’s entertainment reporter, Jill Rappaport, used to be lovers. But now they’re fighters.They’ve armed themselves with lawyers, according to the New York Post (via DansHamptons), over a home in the Hamptons.

Swift, who’s a managing director in BofA’s investment bank and covers media and telecoms, claims in a lawsuit that Rappaport only shelled out $142,500 for the land in Water Mill — but he paid $2.6 million to build the house.

He also argues that he and Rappaport had a verbal agreement: They would share the property equally; the property would not be hers should they go their separate ways, which they did — last year.

Rappaport’s story is totally different. The entertainment reporter for “Today” says that the cowboy themed mansion was a gift to her, from 57-year-old Swift.

According to the NYP, Swift and Rappaport were never married, they only dated for eight years and got engaged, so there’s no pre-nup.

And it’s obvious why Rappaport might have the upper hand in the (probably) coming lawsuit.

Because Swift is better off.¬†Before BofA, he worked for 20 years with Morgan Stanley, where he was head of the bank’s High Yield and Investment Grade Debt Capital Markets for Tech, Media and Communications unit.

When BofA hired him, the bank said,

Rick is a significant, senior hire and we look forward to tapping the wealth of investment banking and capital markets experience he brings.  His leadership and expertise will be invaluable to our clients and will serve us well as we continue to build one of the most highly regarded investment banking franchises on Wall Street.

Swift has a B.A from Yale and MBA from Wharton. And in the lawsuit, he argues:

In or about early 2010, defendant Jill Rappaport suggested that plaintiff should treat as a gift to her the house that he paid for and constructed. This suggestion was completely inconsistent with their prior agreement and understanding.

The home was profiled in Architectural Digest in June, and is called “The Last Buck Ranch,” because, as 54-year old Rappaport old the magazine, “it took every cent I had, and it’s surrounded by all these deer.” She also dropped that she’d been inspired to build the house by her BFF, supermodel Christie Brinkley.

The home has four bedrooms, seven bathrooms, a heated pool, four fireplaces, a movie theatre, a gym and sits on an 50-acre estate.

According to the Daily Mail, “the house “was specially built in Montana, taken apart, shipped to New York and reassembled.”

Here are photos of the house >

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