A fashion mogul is selling his $45 million Hamptons home where a hedge funder once paid $800,000 to live for the summer

Fashion designer Elie Tahari's Hamptons home has just gone on the market for $45 million.

Tahari originally purchased the home for $12.1 million in 2005. The designer said in a statement to the Wall Street Journal that he's selling it because his focus is currently on his business.

"I haven't been there for the last two summers," he said in the statement.

During one of those two summers, the Sagaponack home was rented to a hedge fund manager for nearly $800,000 for the months of July and August, the property's listing agents, Keith Green and Ann Ciardullo from Sotheby's International Realty, told the Wall Street Journal.

Take a look at the private beachfront, pool, and three-bedroom home, below.