Why buy one giant Hamptons estate when you can buy three?
That was the thinking of Michael S. Smith, the natural gas billionaire, who recently purchased three Hamptons properties on Lily Pond Lane for a total of $110 million, making it the second most expensive Hamptons deal ever, according to the New York Post. The Petrie Team, led by Ed Petrie of Compass brokered the deal.
The most expensive property on the Hamptons, of course, was Barry Rosenstein’s $147 million home that he bought in 2014.
Smith bought the home in an off-market deal from the hedge fund manager and serial house flipper, Scott Bommer, who bought the properties for a total of $93.9 million in 2014.
In total, the three properties have 284 feet of oceanfront, 6.4 acres of property, and a relatively modestly-sized (4,500-square-foot) home with five bedrooms.
Smith is best known, perhaps, for throwing a totally over-the-top wedding for his daughter Kaily last year. Usher and Stevie Wonder performed (something for every generation!) and there was a huge Ferris Wheel. Classy indeed.
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