A billionaire entrepreneur is the buyer of a newly constructed mansion in Bridgehampton.
Co-owner of the Boston Celtics Wyc Grousbeck and his wife, Emilia Fazzalari, dropped $58 million on the oceanfront home at 165 Surfside Drive, the New York Post first reported. The eight-bedroom estate was built last year by developer Joe Farrell.
The 1.24-acre property initially asked just under $80 million when it hit the market in April 2024. Farrell slashed the asking price by $10 million last October.
Grousbeck’s new abode spans 8,600 square feet and has eight bathrooms and a 4,400-square-foot rooftop terrace with a putting green. The grounds also feature a pool, a six-car garage and 125 feet of oceanfront.
Compass’ Richard Steinberg and Hedgerow Exclusive Properties’ Greg Gould and Dominic Couzens represented Grousbeck in the deal.
The home is near another of Farrell’s developments, a sprawling waterfront property at 155 Surfside Drive, which hit the market for a whopping $125 million in 2023. The estate is no longer being offered for sale, though it has hit the market for rent several times, asking $1 million for about a month-long stay.
Farrell, CEO of the eponymous development firm, announced last week that he bought an oceanfront home at 42 Deforest Road in Montauk for $17 million, a record-high price for the neighborhood of Ditch Plains Beach, Behind the Hedges reported. The one-acre property last asked just under $20 million.
Grousbeck’s purchase in Bridgehampton comes roughly three months after he sold his controlling interest in the Celtics to a group led by private equity executive William Chisholm for $6.1 billion. Grousbeck, who bought the team in 2002 for $360 million, ceded his seat as governor of the team as part of the deal, though he is remaining on board until Chisholm takes over the rest of the company in 2028.
Among the investors in Chisholm’s group is Bruce Beal, Jr., the president of Related Companies. Beal is also the vice chair and partner of the Miami Dolphins NFL team, which the development firm’s chairman, Stephen Ross, owns.
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