(Bloomberg) -- Ron Baron, founder of the investment
company bearing his name, didn't hesitate to pay $103 million
for a 40-acre parcel in East Hampton, New York. It is the record
for a residential property in the U.S. and just a little less
than double the annual compensation of some of his neighbors.
House prices in the beach retreat that Steven Spielberg
shares with billionaire investor Thomas H. Lee rose 14 percent
during the first quarter, even as the national median fell. The
Hamptons, former potato farms where seagull cries now mix with
the sounds of well-tuned Ferraris, is boosted by salaries on
Wall Street, 40 minutes away by helicopter, said Diane Saatchi,
a broker at Corcoran Group in East Hampton.
Read more at Bloomberg Exclusive News
company bearing his name, didn't hesitate to pay $103 million
for a 40-acre parcel in East Hampton, New York. It is the record
for a residential property in the U.S. and just a little less
than double the annual compensation of some of his neighbors.
House prices in the beach retreat that Steven Spielberg
shares with billionaire investor Thomas H. Lee rose 14 percent
during the first quarter, even as the national median fell. The
Hamptons, former potato farms where seagull cries now mix with
the sounds of well-tuned Ferraris, is boosted by salaries on
Wall Street, 40 minutes away by helicopter, said Diane Saatchi,
a broker at Corcoran Group in East Hampton.
Read more at Bloomberg Exclusive News
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