Hamptons Prices Soar To Record As Lloyd Blankfein Parks $33 Million In 8,000 Square Foot Mansion

Tyler Durden's picture

If there was any confusion where New York's uberwealthy were scrambling to dump their money in December ahead of the now official tax hike on the wealthiest, we now know: some two hours north on the Long Island Expressway, or the Hamptons to be precise. Bloomberg reports: "Home prices in New York’s Hamptons, the resort towns on the Long Island coast, rose to the highest on record as deals at the upper end of the market surged before expected tax increases for sellers. The average price of homes that sold in the fourth quarter jumped 35 percent from a year earlier to $2.13 million, the highest since Miller Samuel Inc. begin tracking Hamptons sales in 1999, the appraiser said today in a report with brokerage Douglas Elliman Real Estate. It was only the second three-month period that the average purchase price topped $2 million, said Jonathan Miller, the New York-based firm’s president."

Needless to say the when a handful of the 0.001%, and quite close to the New Normal discount window - i.e., the Fed's excess reserves - purchase homes with no price discrimination, it has the same impact as when foreign oligrachs come to the US to launder illgotten cash (with the NAR's blessings), sending prices up some 35% in one year. And since the average price of all houses is dragged higher as a result, TV pundits can spin it as a housing recovery, and get consumers to consume even more by "charging it", making the abovementioned Hamptons' home purchasers even richer: there's your recovery. And it is a recovery, all right, for some: like Lloyd Blankfein who just parked another $32.5 million in prime 8,000 square foot Bridgehampton mansion set on some 7.3 acres.

Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd C. Blankfein bought a seven-bedroom home in New York’s Hamptons that was listed for $32.5 million, a person with knowledge of the deal said.


Blankfein, 58, took title to the property on Ocean Road in Bridgehampton in recent weeks, said the person, who asked not to be named because the transaction hasn’t been made public. The person didn’t disclose the price for the home, which was most recently offered for $32.5 million, according to Zillow.com.


Property records reported by LexisNexis list the owner as ‘Fein, Blank.’ The sellers were Matthew Mallow and his wife, Ellen Chesler, records show. In August, Mallow, who was named earlier this year as general counsel at BlackRock Inc. (BLK), and Chesler, a senior fellow at the Roosevelt Institute, hosted a fundraiser at the house for President Barack Obama that was attended by Vice President Joe Biden, according to reports in the New York Post and on the website of the Sag Harbor Express.


“For the most discerning, this classic Hamptons estate- home, situated on magnificent grounds, offers the ideal blend of every modern convenience and amenity within its early 20th- century construction,” according to a June 2009 rental listing for the property on StreetEasy.com, a real estate website.


The home, with six full bathrooms, includes a tennis court, “sculpted gardens,” a swimming pool, and “a winding driveway to a home of which dreams are made,” according to the rental listing.



The listing price of the Hamptons home is more than what Blankfein spent for his Manhattan apartment at 15 Central Park West, according to a February 2006 regulatory filing by Goldman Sachs. He paid $27 million for that property, the filing shows.

Goldman must pay well:

Blankfein has seen his annual pay drop since he was awarded a record-setting $54 million in 2006 and $68.5 million in 2007. His 2011 compensation was $12.4 million, which included a $3 million cash bonus, $7 million in restricted stock, $2 million in salary and $449,600 in other benefits.


Last month, Blankfein reaped $5.93 million by exercising 10-year-old stock options and selling the shares, leaving him with Goldman Sachs stock worth about $209 million at yesterday’s closing price, according to company filings.

Yes it does. And now back to the Hamptons:

“There’s clear evidence of this year-end rush in anticipation of higher taxes,” Miller said in an interview. “We just had a lot of sales at the upper end of the market because the more affluent were more likely to be proactive.”


There were 49 sales in the quarter for more than $5 million, the most since 2006, when Miller Samuel began tracking that data. The quarterly average for the past six years is 23 such deals, Miller said. High earners were expecting to see their tax burden rise as Congress negotiated a budget deal into the new year. The top rate on dividends and capital gains climbed on Jan. 1 to 23.8 percent from 15 percent, including a 3.8 percent tax from the 2010 health-care law.


The median price for all luxury transactions, the top 10 percent of all sales by price, climbed 17 percent from a year earlier to $7 million, Miller Samuel and Douglas Elliman said.

Be advised: "Like, Crazy" is a technical term

“December was, like, crazy here,” said Judi Desiderio, president of Town & Country Real Estate in the Hamptons, which released a report on the market on Jan 18. The year “was like a snowball rolling downhill.”


The dollar volume of homes that changed hands in the fourth quarter surged 51 percent from a year earlier to $771 million, according to Town & Country. The median sale price rose 19 percent to $975,000.

It goes on and on and on, for those for whom, as we said above, there is a recovery. Details can be found here.

For everyone else, here are pictures of the "Fein, Blank" new home located in Bridgehampton:

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ACP's picture

That's Lord Blankfein.
Now bow, peasant!

francis_sawyer's picture

I hope he ends up floating in his pool like Gatsby...

Bunga Bunga's picture

The pool is way to deep for him.

icanhasbailout's picture

The storm surge of a well-deserved, well-placed hurricane wouldn't be

nope-1004's picture

Criminal.  Taxpayer dollars supporting egomaniacs and megalomaniacs whose business and accounting methods have revealed to the world that they couldn't run a lemonade stand without taxpayer support.  Lloyd is a loser.  Somewhere in that mini-me body, he knows it too.

Oh well..... someone on Mars will bail us all out so the facade can keep being inflated.


The Monkey's picture

But, but...

Occupy is a terrorist threat, and HSBC is not, in spite of $800 billion dollars of money laundering to drug cartels, transactions to Iran and terrorist affiliated organizations. What we REALLY need is FISA and the NDAA to keep an eye on ordinary US citizens, and ensure their proper detention, so the NY Fed can continue to enrich the banks.

Oh, wait. Isn't the NY Fed composed of the banks? Oh shucks, yes it is.

Richard Chesler's picture

In Obozo's Amerika, crime pays.



Rogue Trooper's picture

You guys are SOOOOO unfair he's been working real hard saving the world and all that. It's a small reward for the sacrifices made and those extra hours....



fourchan's picture

well the upside is we will know where to find the son of a bitch when hanging time comes.

Xibalba's picture

Think he abides by Kuomo's commie laws?  I think he's a tad armed.  

Renewable Life's picture

Man, i would love to believe that was possible some days, but where we "little people" get it wrong is, we wait for this moment when we think the reckoning will come for all these evil bastards, thieves, cowards, and facists! Because we have been trained to suffer everyday and believe that Jesus will return and equal out the injustice, its in out DNA! Meanwhile these soul less banker fucks, corporate con men, and political egomaniacs, get away with murder, destruction, injustice, and pissing on our Constituation daily!  And so we wait for the mystical day when "the hanging begins" or better put Christ returns!  Its how we cope and live with it all, but understand this, Blankfein and all his criminal gang of fucking thieves, never believe for a minute, you will ever touch them, they are always preparing too. Preparing to get on their private jets and private yachts, and fly away from the burning mass of wreckage they have created, and "resettle" in some new place, where the pickings are better and the people are ripe for another pillage!!!  If the "farmers" and "little people" ever think they are going to get justice with these savages, they better start doing it, when LB and the boys will be least prepared to survive it!  Otherwise, dream on about some great day of reckoning, when you think any of these maniacs will be punished, as the smoke burns from the rubble of GS's HQ!  They will be nicely set up in a new 33 million dollar mansion in Southeast Asia by the sea, as we burn! Thats how it has worked for 1000's of years and it will be again! 

CompassionateFascist's picture

No, now and again the bastards get it in the neck. Unfortunately, it takes even bigger bastards to do the job. I await der Tag. 

Rogue Trooper's picture

Wise words... but there are only so many seats on the chopper when the exist must be made.  Who get's to go? Then, the family and the other hangers on.... Cannot ever party hard again, travel, never go in public again, gotta stay within the protective zone.  Gotta trust the protective team. Bribe the Goverment and hired help in say, SE Asia? Good luck if he chooses Thailand LOL!

It will be more interesting to see how the useful idiots do outta this.  Krugman springs to mindr...

JohnG's picture

There goes the neighborhood.

walküre's picture

Was thinking the digs could make a nice HQ for the revolutionists. Hamptons is probably ground zero. If the elite loses the Hamptons, they've lost control.

Son of Loki's picture

I hope he likes Chinese b/c soon he'll surrounded by all those embezzling gubbermint officals who are (supposedly) buying all those expensive houses....'The Aliens' according to the NAR.

S5936's picture

Yep, and really only "one way out" . Easy pickings ......."cause there's a man down there, mite be your man , I don't no "

S5936's picture

Yep, and really only "one way out" . Easy pickings ......."cause there's a man down there, mite be your man , I don't no "

S5936's picture

Yep, and really only "one way out" . Easy pickings ......."cause there's a man down there, mite be your man , I don't no "

OutLookingIn's picture


Must be heaven?

Since he's doing god's work.

CompassionateFascist's picture

R U telling me Blankfein has to use the same shitter 2x in 1 week?? This man is a victim of anti-semitism. 

Ed McCutcheon's picture

But it's clearly not deep enough to keep his pet vampire squid.

pods's picture

And I bet you that bed has been removed and replaced with a nice restful coffin.


fourchan's picture

its going in that gay pool in the middle of his lawn.

Harbanger's picture

That kitchens way too big for a trophy wife that don't cook.

Papasmurf's picture

That kitchen is adequate for cooking the books.

ACP's picture

Speaking of pools...

$20 to the first person who shits in his pool.

I'm not kidding.

JohnG's picture



Make that an oz. of gold and your on.  Hell I'd do it for free but you started the bidding.  Plus I have to sneak through security....expenses and all that.

ydderf1950's picture

shit bum vinyl liner plastic pool

BrerRabbit's picture

The pool also doesn't have a fence. Which by law everywhere else is required. But laws are for little people. In this case the law is so little people don't drown.

ParkAveFlasher's picture

Not to nitpick, but the Hamptons are three hours EAST of NYC, not north.  Two hours north is Poughkeepsie.

Buck Johnson's picture

I love that pool being cut right out of the grassy yard. 

cynicalskeptic's picture

That seems like a code violation - no fence to protect people who might wander in  but can't swim......  


sort of cries out for the body of a dead hooker found when he's staying (alone) for a long weekend, with a cab driver that remembers clearly dropping her off, and a record of his credit card payments to the front for some escort service....

Might be the only way he'll ever be prosecuted for anything.....

Colonel Klink's picture

Lloyd is a cocksucker who's also use to having his cawk sucked by the highest of Pole-ticians!

californiagirl's picture

Paid for with your involuntary taxpayer-funded bailouts!  Shall we all visit and see what we have purchased?

clara-to-market's picture

We only get so long on this planet.

And you can't take it with you.

It's important to remember that.


Racer's picture

He only got 7 acres??????????

I rather have a small house and 50 acres.

All that plastic wood and fakery...

But these people only know how to  fake so have to have the same in their surroundings and not things like open air and stuff

francis_sawyer's picture

He's surrounded by 7 acres of jews... That's all shits like him know how to do...

kito's picture

was the love of your life who broke your heart jewish??? or perhaps she wasnt a jewess, but left you for one? you have an unhealthy obsession with jewish people...........perhaps you should meet one some day (they dont have horns, i promise)... you might alter your view a bit..........................

secret_sam's picture

Hey, show some respect.  That's Abe Foxman you're addressing.

francis_sawyer's picture

 "you have an unhealthy obsession with jewish people"


The only obsession I have is with the daily news feeds... When I log on to ZH [every day], I'm struck with an almost 100% 'reminder' statistic that who[m]ever the FLAVOR OF THE DAY, [whether it be Blankfein, Geithner, Feinstein, Schumer, Bloomberg, Bernanke, any of the 'Goldman-ites'], it's almost 100% JEWS trying to steal my money & take away my liberties in terms of owning a gun...

I guess I must be making the whole fucking shit up...

nope-1004's picture

Not to be picky or anything, but you left out Madoff, Rubin, and Seinfeld.  ;-o


francis_sawyer's picture

Seinfeld was actually funny... [& he didn't try to steal my money or take away my guns]... If you look REAL HARD, you'll realize that that blows Kito's thesis out of the water...


Almost regularly, people [newcomers] come on to ZH & drop a comment about all the so-called 'jew bashing'... The explanation is easy... Jews have made it a life purpose to involve themselves with the worlds of:

- finance

- political lobbying

- mass media

- law

They're impossible to miss... Now ~ when some 'farmers' start conniving to steal my money & take my guns, I'll start bitching about them... I dn't think the word "jew" has ever come up on any of the farming or gardening websites that I also look at regularly...

john39's picture

what about monsanto?  yes, sarcasm on my part... but monsanto was started by a jewish family...  what a shock.

francis_sawyer's picture

Yeah ~ what a shock...


Quite frankly, I don't worry about Monsato as much [for me], because I grow my own 'un-genetically modified' food (& have harvested my own heirloom seeds since before it started to become an issue)... I haven't completely escaped the BANKING BLACK HOLE WHIRLPOOL completely [though I'm much further along than most probably are]... Thankfully ~ I don't owe any joobux to any jews (or ther conies) who printed the LOAN out of thin air...

All kito (& friends) care about is that EVERYONE skips merrily 'in tune' with the 'MAKE YOU A SLAVE' Jew system...

CompassionateFascist's picture

@Sawyer: it will when they liquidate the Kulaks. 

1100-TACTICAL-12's picture

I'll give you this francis_sawer, You've opend my eyes. What would be your cliff notes or the most important work I should review IYHO. I don't have alot of time right now trying to get my plants started here in FEMA region 6. Mabye even an audiobook / books would be better. I would definitly like more solid knowage than i have now about Gods chosen people.

francis_sawyer's picture

There's nothing wrong with jews [once you start separating them from banking ~ political engineering, MSM, & law are natural offshoots]... Aye ~ there's the rub...

kito's picture

what thesis do i have? that you sit around all day blaming the ills of the world on a group of people that you likely never had contact with??????? ive been here long enough to have established a fairly consistent outlook of the world, so skipping along is not something im inclined to do...........btw, you left out jews that have made a life purpose in medicine, science, arts, chess, literature, etc.......your broad sweeping view of a group of people.....most that just go about their lives like everybody else...is sad.........that being said, as i questioned in the thread below...what makes somebody jewish francis? since you know so much about them?.................