The Post reports that a Southampton estate owned by the late Howard Gittis has gone into contract for $45 million. The 1929 home was designed by renowned architects Hiss & Weeks, and had been owned by Gittis, the longtime adviser to billionaire Ron Perelman, since 1993. (He reportedly bought the estate for a mere $9 million.) At 15,000 square feet and set on 15.4 acres on Ox Pasture Road, the home is palatial, to say the least. With 25 rooms in all, the 7 bedroom, 8.5 bath house has amenities to spare, including a carriage house and pool pavillion. According to the article, the home has been heavily pricechopped during its time on the market. Listed two years ago for $59 million, the number came down to $49.5 million before the sale. A deal, no doubt, for the unidentified financier buyer and his sizable bank account.
· Listing: Southampton Prime Estate Section [Corcoran]
· Hamptons Real Estate Blip [NYP]