NEW YORK: Hamptons Home Of Late Gay Couple Sells For Record-Setting $145M

The Hamptons estate of a late gay couple sold this week for $145M, the highest price for a residential property in US history. But there's an ugly story here.

The massive estate was the dream home of Christopher H. Browne, the former managing director of the Tweedy, Browne Company investment firm – he died December 2009 at age 62 from a heart attack. Browne left the home to architect Andrew Gordon, his partner of 10 years, sources said. The will was contested by a dozen of the deceased investment guru’s relatives, but Gordon remained in the home after reaching a settlement three years after Browne’s death. Gordon was battling cancer at the time and died last September at age 52, the paper said. The property then reverted back to Browne’s family, and they immediately put it on the market.

Last year the New York Daily News reported on the battle for control of Browne's estate:

A man accused of using "undue influence" to take control of his high-powered financier boyfriend's $260 million estate is now a whole lot richer. Landscape architect Andrew Gordon has been cleared to collect on the vast majority of legendary moneyman Christopher Browne's estate - including his $25 million Park Avenue apartment and $75 million East Hampton spread - after a dozen of Browne's relatives and friends dropped their court challenges to his 2008 will, the Daily News has learned. Browne died "alone, in a bar" in December 2009, court papers say. He was 62. Ten relatives and two friends had accused Gordon of taking advantage of Browne's alcoholism and "diminished mental state" to further line his pockets with the Tweedy, Browne Co. director's money. Gordon quietly reached a confidential settlement with the angry twelve in December, leading Manhattan Surrogate Court Judge Nora Anderson to find the will was "validly executed" and Browne was "competent" to sign it.

The Hamptons property was reportedly purchased by a hedge fund manager.

Fiscal Cliff Prompts "Panic Home Selling" Among Hamptons Mega-Millionaires

The New York Daily News reports that the approaching fiscal cliff has prompted a rash of slashed mansion prices in the Hamptons.  Some homes have been marked down to only $20 million!

Hamptons homeowners have launched a selling spree, offering fire sale prices to get rid of their properties before higher capital gains tax rates are expected to kick in Jan. 1.  “There is a frenzy here right now,” said Enzo Morabito, a long-time Hamptons-based broker with Douglas Elliman. “People know they save money if they sell now. I have very willing sellers and hot buyers who want to take advantage of the low interest rates that might go away next year as well.” And the prices are being slashed to cut down on delays and to keep the capital gain from the tax man.  “We had a beachfront seller in Southampton who reduced his home 15% to $23 million this week,” said Paul Brennan, also of Douglas Elliman. “The window is closing. If you're anticipating any fiscal cliff, you better sell now.”

Hit the link for photos of these distressed properties.

Photo Of The Day

Mitt Romney faced some protesters at his fundraiser in the Hamptons.

What was billed as a day of elegant campaign events at the homes of the ultrarich turned out to be an afternoon of curious and clashing tableaus: protesters with their bandannas and Occupy Wall Street-inspired chants (“We got sold out, banks got bailed out!”) standing amid multimillion-dollar mansions, where live bands played “Margaritaville” and donors dined on prosciutto-wrapped melon balls. A luncheon fund-raiser was held at the sprawling home of Ronald O. Perelman, the billionaire financier and Revlon chairman. Widely described as the largest estate in East Hampton, when last advertised in the early 1990s, the house was said to have 40 rooms, 9 fireplaces and a mile of frontage on Georgica Pond. After that, Mr. Romney attended events at the Southampton homes of Clifford Sobel, the former United States ambassador to Brazil, and David Koch, the billionaire industrialist and longtime benefactor of conservative political causes.

Hamptons Fundraiser

Last week GOP flacks went ballistic over "elitist Hollywood-owned" Obama and his celebrity-filled fundraiser at the home of Sarah Jessica Parker. And last month, the president got the same treatment for George Clooney's event. But it'll be radio silence on this David Koch soiree, bet on it. Source.

Palin Eyeing Hamptons Home?

New York Social Diary reports a rumor that Sarah Palin is shopping for a new home in the Hamptons.

The rumor going around is that Sarah Palin, the now ex-governor of Alaska, has been looking at real estate in the Hamptons and is considering three different properties in Hampton Bays. The presumed projection is that Ms. Palin is going to write a multi-million dollar best seller, then have a talk radio show and then will rally the troops and run against Obama in 2012. Supposedly she resigned her office because she found out she could make a lot of money and great political strides in the aforementioned way. If so, she will be the first governor of a state in the history of the Republic to leave office before it was over so that she could make a bundle and prepare for the Presidency.

(Tipped by JMG reader David)