Hedge-funder Scott Bommer to pay $94M for Hamptons site

Scott Bommer and Lily Pond Lane in East Hampton

Scott Bommer, founder of hedge fund SAB Capital, is in contract to acquire three East Hampton parcels for $93.9 million. If the purchase goes through, it would be one of the all-time priciest deals in the Hamptons market.

The prospective deal arrives on the heels of Bommer’s $75 million purchase of the 14.5-acre Wooldon Manor last year from fashion mogul Vince Camuto. That acquisition was officially the priciest one in the Hamptons for the year. Bommer has already listed Wooldon Manor for $98 million, with Tim Davis of the Corcoran Group and Sotheby’s International Realty brokers Harald Grant and Ed Petrie, the Wall Street Journal reported.

The 6-acre lots on Lily Pond Lane include a white house and a vacant lot. Vista Capital’s Maurice Cunniffe owns two of the lots, while telecom executive Allen Salmasi owns the third.

Bommer notably set a record in 2008 by flipping a Carnegie Hill co-op unit at 1060 Fifth Avenue for a whopping $48.9 million. He sold a co-op at 1040 Fifth Avenue to Related Companies CEO Jeff Blau  for $21.4 million that same year. [WSJ]Mark Maurer

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