New York developer swoops in to save historic Hamptons house from demolition

We guess even New York City real estate developers get nostalgic sometimes. David Walentas, the billionaire developer credited with transforming the Dumbo area of Brooklyn, is stepping in to preserve a historic home in Bridgehampton by moving it to a protected lot, the Wall Street Journal reports.

Called the “Haines House,” the sweet farmhouse was built in 1679 by the Haines family. Walentas owned it and used it as his summer home for many years, updating the interiors and adding space to it.

Last year, he sold the lot it was on to a derivatives trader for $3.65 million. The new owner decided to tear down the old house, so Walentas stepped in and is in the process of moving it. It will now live on a new foundation on a horse farm Walentas is currently selling for $18 million, which cannot be developed.

“We love old houses. It was the right thing to do,” he told the Journal.

Though Walentas admitted to the Journal that the 2,000-square-foot house will certainly add value to the farm, he insists that is not the reason he is moving it. “I am rich enough that it doesn’t matter.”  [WSJ]