Joseph Gregory in the Hamptons. Estate of the Day

by Deidre Woollard (RSS feed)
Sep 22nd 2008 at 1:01PM

Last week we saw the Maryland home of Freddie Mac CFO, Anthony Piszel, now check out another estate being sold, I'm assuming, due to the financial crisis. The Real Estalker Mama alerted me to the extravagant Hamptons getaaway home of Joseph Gregory. Who is Joseph Gregory? He was, until last June, the Chief Operating Officer, President and Managing Director for Lehman Brothers. Gregory's Hampton's home is a relatively new eight-bedroom spec house which was built on 2.5 acres in Bridgehampton, New York. The Real Estalker Mama reports that after buying the home for $19 million, Gregory and his wife Niki spent several million dollars in renovations. The home includes two master suites, a second floor deck, The property includes a pool area surrounded by plush green lawns and a sandy path leading across the dunes and to the ocean. The astounding thing here, aside from the $32.5 million pricetag, is that the couple reportedly spent just 14 days in the home over two years that they owned it.

UPDATE: This home is now listed at $27.9 million.

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Gallery: Joseph Gregory in the Hamptons

Tags: estate of the day, EstateOfTheDay, hamptons, joseph gregory, JosephGregory, lehman brothers, LehmanBrothers

Filed under: Estates, Celebrity Shopping

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Reader Comments (Page 1 of 1)

ADS Sep 22nd 2008 1:53PM

Of course by only staying there for 14 days they were able to take advantage of a sweet tax break for depreciation and operating costs as a non-owner occupied investment property.

hs Sep 22nd 2008 2:01PM

That was reported in last July.

caribbeauty Sep 22nd 2008 8:57PM

That house needs to be redecorated immediately! Prospective buyers need only to buy because of location but other than that, the decoration on that house is hideous. The bedroom is like, say what?!!?!?

kenny17995 Sep 22nd 2008 8:15PM

the house is very charming and it is situated on an amazing property, but I do not think it is worth $32.5 million.

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Surfside.Drive Sep 28th 2008 9:24PM

I know the house. It is adjacent to the public beach with a parking lot next door. It is the least desirable property on Surfside Dr. but the house is outstanding.

IT is worth $18-20 mil before the financial meltdown. Better, but smaller homes have sold for $14 mil.