The Hamptons estate of a late hedge funder just sold for $27 million

A Hamptons home that belonged to the same family for more than 30 years has finally sold after more than a year on the market, according to The Wall Street Journal.

Dating back to 1904, this Water Mill mansion previously belonged to Jack Nash, the co-founder of the hedge fund Odyssey Partners.

Nash died in 2008, and his wife, Helen, had put the house on the market with Corcoran and Harald Grant of Sotheby's International Realty.

Though realtors had originally hoped to get $38.5 million for the home, it finally sold for $27 million - a 30% reduction.

The home sits on Mecox Bay and includes panoramic ocean views and even a livable water tower.

Alyson Penn wrote an earlier version of this story.