April 20, 2010 UPDATE…
A little known fact is that in mid 2007, Blankfein was in the process of purchasing Old Trees, an estate in Southampton for over of $40M.
Interestingly enough, he backed out of the deal and stayed in his Sagaponack home.
But, guess who stepped in a bought Old Trees a few months later? That’s right – Paulson.
How many degrees of separation? md
June 12,2006 Update – SOLD for $9.5M
John Paulson in Southampton, Estate of the Day
Paulson bought the home for $12.75 million in 2006 so when he put it on the market in April he priced it at $19.5 million, anticipating a tidy profit. No takers so in late August he dropped the price to $16.9 million. In October he finally got a nibble but he had a buyer with a signed contract walk away from the deal. Paulson really needs to unload this puppy so now it is down to $13.9 million which means he resigned himself to not making a huge profit on the sale.
See whole post here