Hedge-Funder Flips His Historic Southampton Estate For $80 Million

Hedge fund tycoon Scott Bommer has flipped his Southampton estate for more than $80 million just a year after buying it for $75 million, reports The Wall Street Journal's Candace Taylor.

Bommer, founder of SAB capital initially listed the expansive property on Lake Agawam for $98 million in March.

The historic estate, called Wooldon Manor, previously belonged to shoe tycoon Vince Camuto. It sold as two separate parcels: the 10,000-square-foot and 2 acres, which were bought by a "New York family" for $50 million, and a 12-acre plot, which went to a developer.

The estate - which has a gorgeous pool, pool house, formal gardens, a romantic green house, and tennis court - had been owned by both the Woolworth family and Edmund Lynch, a founding partner of Merrill Lynch.