Blankfein Waffles

Hurry up, Lloyd. Summer is nearly half over.

Pulling the trigger to buy that perfect piece of real estate can be a little unnerving. Especially when you are dropping $40 million. But for the head of Goldman Sachs, it is not even one year’s compensation.

Like some reticent bride, Goldman Sachs CEO Lloyd Blankfein seems to be having a hard time saying “I do” to multi-multimillion-dollar Hamptons estates. The problem, friends say, is that Blankfein (who made $53.4 million last year) and his wife really aren’t flashy people. Longtime owners of a lovely brown-shingled spread in Sagaponack, they knew it could be time to find a summer house more in keeping with Blankfein’s stature . . . but not too in keeping, you know?

Finally, in February, after a protracted hunt, Blankfein found the one. Built in 1911 as the personal residence of a then-famous architect, the 10.4-acre estate, “Old Trees,” fronts Lake Agawam and boasts sweeping views of the Atlantic, a 13-bedroom Georgian main house, a three-bedroom guest house, a furnished barn and too many other amenities and upgrades to describe here. The agreed sale price — $41 million —would be the third-highest in Hamptons history.

Lloyd seems to be worried about the attendant publicity, or perhaps just got cold feet. It is hard to imagine the sale generating more buzz than Ron Baron’s recent transaction. Personally, I think he should pick up something closer to the beach so he can paddle out every day. If surfing can survive John from Cincinnati, another balding CEO won’t likely ruin its street cred. Maybe Mr. Loeb can even give him a few Pointers. Like, say, Three.

Blankfein (Almost) Buys His Dreamhouse
Dealmaker

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