News comes this morning that 70 Further Lane, East Hampton, has traded off the market, selling for $59.5 million just last month. The seller was 70 Further Lane LLC, while the buyer was 70 Further Lane Holdings LLC. (Well, that’s imaginative!)
We, of course, know that 70 Further Lane was the home of legendary short-seller Jim Chanos, who’s been called the Darth Vader of Wall Street, the Catastrophe Capitalist, and the LeBron James of short selling. He is of course most famous for correctly predicting and shorting Enron. Recently, the billionaire was known for shorting Tesla, but he’s now changed to a put position.
And we guess he hit his strike price on 70 Further Lane! The property is what we’d call “semi-oceanfront,” as in, there are just dunes between the house and the ocean, but we think this is one of those properties where the Nature Conservancy owns the dunes. (If we’re wrong, let us know.) The house looks comparatively modest for the area, on a long, thin 2.97 acre plot.
What do you think? We’re fairly sure this will be on a top 10 list of sales for 2021.