The late billionaire and founder of Forstmann Little and Company, Teddy Forstmann's Southampton beach residence is finally in the escrow for around $28.5 million after sitting unclaimed for almost a year. The residence was first listed in March 2012 for around $34 million. After a couple of price chops, the home is finally under contract to sell.
The buyers are reportedly a New-York based couple who is into private investment, reports The New York Post.
According to the listing records, the residence is an 8,600 square feet home with many luxury amenities all spread across a five acre beach-front land.
The floor plan sketched out by the Real Estalker reveals that the home has six bedrooms and six full and one half bathroom. The two story home features hardwood, marble and tiled flooring with wooden beamed and tray ceilings in parts of the house.
A stone driveway leads up to the entrance that opens into a grand foyer with a large winding staircase. The first floor comprises of a sitting room, a den, a library, a huge storage room, a laundry and three bedrooms.
The second floor has two master suites, an office, a large living room with a wet bar, a huge dressing room and a gourmet kitchen with a butler's pantry that opens into a big formal dining area.
Outside, the home has a resort style swimming pool and a full tennis court. The property offers vast expanses of stretching greens as well.
Check out the photos here.
Forstmann's duplex penthouse on East 70 Street sold in July 2012 for an 11 percent profit at $40 million.
Forstmann passed away in November 2011 from brain cancer. He was known to be a ladies' man but never married. He last dated, cook-book author, Padma Lakshmi. Lakshmi has a two-year-old daughter, Krishna Thea Lakshmi to whom he left $1.8 billion, even though he was not her biological father.
