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Sachs' CEO Drops New Money on 'Old Trees'

Oct. 27 2008, Published 7:07 a.m. ET

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ROOM FOR (THE WHOLE) COMPANY Blankfein's $41M 'Old Trees' on First Neck Lane, Southampton, Blankfein (inset)

Goldman Sachs CEO Lloyd Blankfein might have shattered records with his $53.4 million paycheck in 2006, but in the end he took that burning hot wad and did nothing more than what any other Wall Street honcho would do: He went shopping for a mind-blowing home.

First there was his gargantuan $27 million Upper West Side apartment. Now he's aimed his checkbook at the fabled "Old Trees" estate in Southampton and fired away, buying the place for a staggering $41 million.

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Not only is the 1911 estate located on swanky First Neck Lane, it's a spacehog, swallowing up 10.6 acres on Lake Agawam. There's a clay tennis court and an ocean-view swimming pool with a heated walkway from the main house—exactly the sort of adult playground gear you'd expect to find in tony Southampton. But even the "cottage" on this estate has 13 bedrooms and a dining room that seats 60. Another guest house, the modestly named "Tulip Cottage," has three bedrooms and a heated pool of its own. The "barn," built in the 1800s, has three bedrooms, too, and massive entertainment space.

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Hey, Blankfein, save some Hamptons for the other suits!

Poke around the place, after the jump!




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