Patriots’ Kraft Buys Hamptons Beach House for $43 Million, According to Reports

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Wednesday, May 05, 2021

GoLocalWorcester News Team

New England Patriots owner Bob Kraft has reportedly purchased a swanky beach house — not in New England.

“Kraft has bought a tony Hamptons property in an off-market deal for $43 million, according to two people familiar with the deal,” reported the Wall Street Journal Tuesday morning. “The transaction is one of the largest to close in the wealthy beach destination so far this year.”

“The property is on Meadow Lane in Southampton, N.Y., among some of the most expensive properties on Long Island,” the WSJ continued. “Other Meadow Lane owners include Henry Kravis, the billionaire co-founder of private equity giant KKR, hedge-fund manager Ken Griffin and financier Leon Black, records show.”

As GoLocal reported in 2019:

Black’s Apollo Global Management is financing the merger of GateHouse Media and Gannett -- owners of the Provjdence Journal -- with a $1.79 billion term loan that comes with a steep interest rate of 11.5%.

Thus, the person who is nearly guaranteed to make the most money on this mega-merger deal is Black -- a close friend of registered sex offender Jeffrey Epstein.

Black stepped down from Apollo in March of 2021.

Property in Focus

The Real Deal reports that the property had been owned by former HFZ Capital Executive Nir Meir — and was at the center of legal controversy.

“The property was at the center of litigation between Meir, who was previously a principal at HFZ, and the development firm’s founder, Ziel Feldman, along with the firm’s creditors,’ TRD reported.

“The wealthy Fulton Cutting family owned the property — formerly home to a smaller cottage known as A Wee Lyr Mor — for decades, and listed it for $17.5 million in 2011,” TRD added. “An LLC registered with HFZ’s New York office purchased the home for $10.5 million in 2013, records show.”

“The buyer then applied for a demolition permit to knock down the cottage and build a modern home, sparking pushback from neighbors and a lawsuit that temporarily stalled construction,” they reported. “The new home was eventually built in 2017.”