In 2007, advertising executive Donny Deutsch shelled out $29 million for 3.3 acres of "double dune protected" land on Tyson Land in East Hampton. After buying the land, Deutsch donated a circa 1700 house that was on the property to the town. How thoughtful! But don't think he'd just give the land away too. In fact, Deutsch only parted with the property after Howard Marks, the "chairman of Oaktree Capital," agreed to pay $30 million for it. Not the largest appreciation, but Deutsch executed the deal without a broker to make up for it. Everybody (especially Deutsch) wins!
· Rich Cribs [Real LI]
· Deutsch Does Deal for $30M [NYP]
· Listing: 12 Tyson Lane [Corcoran]