In the financial world, John Paulson can’t be beat: he deftly navigated the subprime collapse and he’s still doing well despite the larger downturn. But when it comes to real estate, he can’t pull off one multi-million dollar transaction: the sale of his Southampton home. He first put it on the market in April for $19.5 million, then slashed it to $16.9 million a few months later, and now it’s listed for $13.9 million, which is just $1.2 million more than he paid for it. That’s not a good return.
If only Edgar Bronfman and John Paulson could pull a Freaky Friday and Paulson could sell his house and Bronfman would make some smart business investments.
WSJ: Mr. Paulson traded up in January, paying $41.3 million for one of the most expensive listings in the chic Hamptons: a 10.4-acre Southampton estate known as Old Trees with a 15,000-square-foot restored shingle-style mansion, two guest houses, a pool, staff quarters and extensive frontage on Lake Agawam.
In 2006, Mr. Paulson paid $12.75 million for the 6,800-square-foot “cottage” now for sale. It has seven bedrooms and an enclosed pool, unusual for the Hamptons.
We posted pictures back in October, which are still available here.
See Also: Houses Of The Crash: “For Sale” Edition
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