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70 Further Lane, East Hampton
An oceanfront estate in East Hampton Village quietly sold last month for $59.5 million in an off-market deal.
According to The Real Estate Report Inc., 70 Further Lane sold on February 5. However, there is no listing to be found for the 3-acre property, which includes a large shingled home, an oceanside pool, a tennis court and a basketball court, and no agency has stepped forward to take credit for the sale.
The owner was Jim Chanos, a hedge fund manager who has had great success in short sales. He is the president and founder of Kynikos Associates, and known for predicting the fall of Enron in 2001. Just last year, he successfully shorted troubled companies Luckin Coffee and Wirecard AG.
At 70 Further Lane, Mr. Chanos hosted annual parties to enjoy Fourth of July fireworks and also fundraisers. A July 2010 invitation states that Mr. Chanos and his then-wife, Amy Chanos, hosted a political fundraiser there for Andrew Cuomo’s first bid for governor. They also hosted at least one charitable fundraiser there for Miracle House.
At nearly $60 million, 70 Further Lane is the biggest Hamptons real estate transaction of 2021 to date.
The buyer’s identity is shielded by a limited liability company.
Staff Writer on Mar 12, 2021