Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

HOUSE OF THE DAY: Hedge-Fund Tycoon Finally Sells His Oceanfront Hamptons Estate For $16 Million

Asta ThrastardottirOct 14, 2014, 01:48 IST

Hedge-fund manager Scott Bommer (who is known for flipping homes in the Hamptons) has finally sold his historic oceanfront estate in Southampton for $16 million, according to Curbed Hamptons.

Bommer originally put the house on the market in September of 2013 for $25 million, but has since had to lower the price multiple times. According to Southampton Village Real Estate, the final price was $16 million - a staggering $9 million and 20% below Bommer's asking price.

The historic beach house, known as the Halcyon Lodge, was once a part of the Henry Ford estate.

In 1946, Mr. and Mrs. Henry Ford II commissioned the famous architect Phillip Johnson - known for building The Glass House - to build a one story glass wing addition to the estate.

The home sits on 1.5 acres of land with 142 feet of oceanfront. Inside there are eight bedrooms, six baths, a heated pool, and even has a three-bedroom carriage house for guests.