It’s a tough day for all the people in the world who have a spare $147 million in their coffers. All of them, except for one lucky soul named Barry Rosenstein, missed the chance to be on the purchasing end of the most expensive residential real estate deal in American history, Curbed reported.
That’s what happened when an 18-acre East Hampton estate sold for the nine figure price that trumped previous landmark deals, including the sales of a 50-acre farm in Connecticut ($120 million), a 124,000-acre ranch in Montana ($132.5 million), and another sale in East Hampton for 40 acres of undeveloped land ($103 million), according to the story.
Rosenstein founded and manages a hedge fund called Jana Partners and has taken home more than $120 million in salary and bonuses the past two years, according to CelebrityNetWorth.com. So it doesn’t sound like he’ll miss the money.
But there are a good number of people out there who are missing their cut of that sweet, East Hampton home-buying action: luxury real estate agents.
Rosenstein bought the property directly from the estate of Christopher H. Browne, who managed an investment firm before he died in 2009. The New York Post reported that some brokers claimed the property could have had an even gaudier price tag on the open market, quoting one agent that said the estate’s trustees had “a fiduciary responsibility to get top dollar.’’
That translates, roughly, to “I am bitter I did not get a commission out of this absurd deal.’’
But hey, that’s the vicious world of East Hampton real estate: luxurious estates, obscene price tags, and more than a few hurt feelings.