Hedge Funder Ed Lampert Is Shelling Out $40 Million For This home

Discussion in 'Wall St. News' started by Free Thinker, Mar 2, 2012.

  1. wow.......

    This house was never on the market, that's how exclusive this deal is.

    According to the Wall Street Journal, the chairman of Sears and CEO of ESL Investments, just bought a $40 million property on an island off the coast of Florida's Biscayne Bay. There are only 33 other homes on the island, and this one will break Florida's record for most expensive single family home.

    The sellers, Paul and Trudy Cejas held the property in a trust, but since Cejas is moving to Belgium to become the ambassador, they decided to sell.

    The 17,000 square foot property boasts a reflecting pool and an "arrival court." It sits on 2.7 acres of land.

    Check out the WSJ's full coverage below:

    Read more: http://www.businessinsider.com/hedg...dium=feed&utm_campaign=Feed:+businessinsider+(Business+Insider)#ixzz1nzdJQxPe
  2. 1) For him, that's "chump change". :D
    2) Will he redecorate with furniture and accessories from Sears? :confused:
    3) He'll have plenty of time to "reflect" upon why/how he may have paid "top dollar" at the top-of-the-market for a luxury home. :cool:
  3. Guess he didn't learn his lesson with Sears:p
  4. the funny part is someone living in a home like that takes an easy job that any fool on unemployment can handle. its crazy how rich people get freebie jobs.
  5. I've always been surprised to learn that rich people in the states often buy a place just to level it and rebuild something new.

    Whats up with buying a place to live in, or buy clear land to build on?
  6. Years ago I bought the home of my dreams but (sigh) it wasn't the dream home of my wife....after some years we ripped it down and rebuilt everything so she could have her dream home. Worked out quite well except I can barely afford it now. :D

    p.s. I'm by no means rich either, thank god for no doc loans back in the day.
  7. JamesL


  8. He'll have plenty of time to reflect upon why he paid top dollar at the top-of-the-market for a mansion which will be MUCH cheaper in a few years.

  9. Bob111


    mmmm..to avoid that-buy the house that would satisfy your wife. preferably -all family members. not sure why,but i see a lot of things like this in US. separate bank accounts,her car,my car etc..
    #10     Mar 5, 2012