A massive Hamptons estate that once belonged to the Ford family is on the market for a potentially record-breaking $175 million

There's a new most expensive home for sale in the Hamptons, and it has a connection to the Ford family.

Once part of a larger property called "Fordune," the 42-acre estate has hit the market for $175 million. It was originally built for Henry Ford but has reportedly been owned by portfolio manager Brenda Earl since 2002.

Cody and Zach Vichinsky of Bespoke Real Estate have the listing, which is now referring to the home as "Jule Pond."

If it sells at its current price, Jule Pond would be the most expensive home to ever change hands in the US. The current record is held by hedge funder Barry Rosenstein, who bought an East Hampton property for $147 million in 2014.