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Teddy Forstmann's Southampton Mansion Finally in Contract

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One year and two pricechops after hitting the market, we hear that the late Teddy Forstmann's spread on Meadow Lane is in contract. The beautiful 8600sf traditional-style house, built in 2000, was originally listed for $34 million, then was chopped to $31 million; the last asking price was $28.5 million. No word yet on the price paid by the buyers, who are said to be "in private investment."
· Listing: World Class Oceanfront [Corcoran]