Jack Grubman, the former managing director of investment bank Salomon Smith Barney, listed his East Hampton estate last week for $16.9 million.
Mr. Grubman paid $7 million for the home in 2000, according to public records with PropertyShark. He used an LLC linked to his company, the Magee Group.
Built in 1906 and set on three acres, the six-bedroom main house underwent a complete renovation in 2002, which involved adding bedrooms, as well as building a 1,500-square-foot, triple-height guest house.
The owners “created a park-like property,” said Beate Moore of Sotheby’s International Realty. Ms. Moore shares the listing with colleague Frank Newbold, along with Compass’s Ed and James Petrie.
Spanning 6,600 square feet, the house has six-and-a-half bathrooms, a vaulted living room with 13-foot-high ceilings, an eat-in chef’s kitchen, a paneled library and an oversized master suite with a fireplace and a sundeck, according to the listing.
It also has a three-car garage, a 50-foot heated swimming pool, and a full-size tennis court.
This is the first time the house has been on the market since Mr. Grubman purchased it 17 years ago.
Mr. Grubman, who could not be reached for comment, formed the Magee Group in 2003, and serves as the consulting firm’s managing partner. In 2003, after advising both telecom firms and investors at the same time, the Security and Exchange Commission banned Mr. Grubman from the financial industry for life for misconduct. He was required to pay a $15 million fine.
Between 1999 to 2001, Mr. Grubman was reportedly the highest-paid analyst on Wall Street, earning upwards of $25 million a year.
Realtor contributed to this story.
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