Falcones Put Hamptons Land On The Market

Oct 19 2012 | 7:49am ET

Harbinger Capital’s Philip Falcone and his always colorful wife Lisa Marie are holding a yard sale, so to speak. The embattled hedge fund manager, who in June was charged with fraud by the Securities and Exchange Commission, is hawking 36 acres of land the couple owns in the Hamptons. The property, in Water Mill on Deerfield Road, is listed by real estate firm Corcoran for $7.995 million.

Wild Acre Farm in the Hamptons: (Photo: Courtesy of Corcoran)Wild Acre Farm in the Hamptons: (Photo: Courtesy of Corcoran)

According to an online listing, the lot, Wild Acre Farm, encompasses more than 36 acres and “present[s] a variety of interesting scenarios along the farm fields of Water Mill's Deerfield Road. With each lot having room for a significant house, pool, pool house and tennis court and the reserve capable of hosting a significant equestrian facility, the possibilities for fertile minds seems endless.”

The SEC lawsuit—which Harbinger’s lawyers are aiming to have dismissed— is only one of the issues that have hounded Falcone his hedge fund in recent years. The firm has seen its assets dwindle due to difficulties faced by its largest investment, wireless Internet venture LightSquared, which Harbinger put into bankruptcy protection earlier this year.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note