John Paulson's Southampton Price Cut
Good news for anyone looking for a huge bargain in the Hamptons now that we've reached the end of the season. After languishing on the market for four months at $19.5 million, billionaire hedge funder John Paulson has slashed the price of his 6,800-square-foot Southampton home. It's now just $16.9 million. Even with the $2.6 million discount, Paulson will still collect a profit (assuming he sells at that price, of course). He bought the three-acre property from Jurgen Friedrich for $12.75 million in 2006. But after his hedge fund's stellar year in 2007—Paulson himself collected ten figures, making him the highest-paid man in finance for the year—it was clear he'd have to trade up, and he picked up an estate nearby for $41.3 million. After the jump, photos of Paulson's hand-me-down.
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