Dan’s Papers May 13, 2011 danshamptons.com Page 26
ESTATE OF MIND
by T.J. Clemente
At long last, the 55-acre waterfront property in North Haven know as Tyndal Point has been sold to billionaire real estate developer Jeffrey Greene of Palm Beach, Florida, by Robert Rust, a former U.S. Attorney in Florida who served Presidents Nixon and Ford with distinction. Back in January 2007, in what was then a record
asking price, the property was put on the market by Rust—with much fanfare—for $80 million. The most recent listing was $44 million, although the actual selling price is part of a confidentiality agreement between buyer and seller. The property faces Mashomack Preserve on Shelter Island not far from the South Ferry landing. Back in 2007, Rust decided to sell the estate, which includes 3,000 feet of shoreline on the Shelter Island Sound and five separate structures, after his permit applications to make necessary repairs were denied by the Town of Southampton. However, when no buyers stepped forward and the real estate market softened, Rust, in fact, received the permits to renovate the structures and spent well over $100,000 renovating the homes. Tyndal Point came into Rust’s possession when he inherited the North Haven property from his
aunt and uncle, Lorraine and Orin Anderson, in 2002. They paid somewhere around $200,000 for it in 1950. No stranger to the East End, Rust had spent many summers at his mother’s estate on Nassau Point on the North Fork, and it eventually passed to him. Greene, based in Florida, plans to spend summers at Tyndal Point with his family after the birth of his second child. His 145-foot yacht, Summerwind, berthed in Sag Harbor, has been the scene of legendary parties. It is now on the market for $7.9 million. It is generally agreed that Greene became a billionaire by shorting sub-prime credit in 2007. In other words, he bet on the fact that the subprime mortgage market would crash. A true American success story, he started as a telemarketer selling circus tickets while studying at Johns Hopkins University. He reportedly saved lots of money by eating at Pizza Hut and living out of his car. Then Greene invested in Boston real estate while earning an M.B.A. at Harvard. In 2009, he was listed on the Forbes 400 list of billionaires. Now Greene is looking forward to spending quality time with his family at Tyndal Point. And as for the yacht, he recently told The New York Post, “The median age of guests at our parties now is like two years old. It’s really not a part of our lives anymore.”
Pond
We move so many pianos we could give lessons. In fact we do. The professionals from Despatch Moving and Storage that pad, pack, load, drive, and unload your possessions have received hours and hours of training long before we let them touch any of your belongings, let alone your Baby. Despatch began moving people in 1910. Even then they realized the key to successful moves wasn’t just strong backs and powerful trucks. It was heart. Caring about the people they were moving and the things that made their house a home were more important. Today, the thank you letters we receive from our clients are
music to our ears. Many of the words used strike a familiar chord – careful, friendly, understanding, professional, courteous, and efficient. We’re not surprised. Moving pianos is not our only forte. Our staff knows how to baby your antiques, collectibles, fine art, furniture, as well as your floors and walls. In short, if you’re planning a move call us — but only if you want to be babied in grand style.
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leaves. His stuff loved dead leaves. The algae, meanwhile, moving slower, would get down to their food source when it was too late. And so that way, the algae would again move on to new waters. After this meeting, one wag suggested they send down both the Lakesavers stuff and the Alum and have them fight it out. But then Baykeeper McAllister waded in, offering at least lukewarm support for the Lakesavers. “I have some issue with Alum use, and I think this program is worth exploring,” he said. Tucci, encouraged, told the Indian Maiden Life Support Group that the cost would be $90,000 a year and then, when asked, had to confess that the stuff would only be good for a year and would have to be paid every year forever and ever until some other solution arrived. Those living around the pond are not going to give up their shiny green grass, colored flowers and exotic Chinese bushes. Forget it. I’d like to propose my own solution. And this one will work right away. And it will last forever and ever. Drain the pond, then pour reinforced concrete over the leaves. After the concrete has dried—there would be a drain at the lowest point for maintenance of course—fill the pond with pure, fresh, sparkling clean, fresh water, perhaps trucked in from the Pelligrino waterfalls in Italy. Then dump into the pond those little plastic toy ducks and swimming fishes that wiggle along powered by AA batteries, make yourself a rum punch and some nibblies, sit out on one of the chaise lounges on your deck overlooking the lawn and the gardens and the sunset and, well, enjoy.