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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.

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

Poke around the place, after the jump!

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