Tepper's $43.5 Million Mansion Now Vacant Lot

Oct 28 2011 | 11:36am ET

David Tepper was in quite a rush to knock down the $43.5 million Hamptons mansion he bought last year. But the Appaloosa Management chief doesn't seem to feel as much pressure to build a replacement.

Tepper's 6.45-acre oceanfront plot in Sagaponack, N.Y., is currently little more than a hole in the ground, a construction trailer and a port-a-potty, the Southampton Patch reports. Tepper had the site's former digs demolished earlier this year, complaining that the home, less than 20 years old, offered insufficient beach views from the first floor.

Tepper also admitted to taking some pleasure in demolishing a home formerly owned by former Goldman Sachs CEO—and New Jersey governor—Jon Corzine, who passed Tepper over for a Goldman partnership.

Tepper's new home, when it is built, will be twice the size of the original dwelling, with a sunken tennis court, underground three-car garage, a covered porch—and better views of the Atlantic.

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