House for sale in the Hamptons… $175,000,000 (video)

A lavish Southhampton, New York estate has an asking price that is simply incredible, and one has to wonder why anyone would spend such a dollar amount for a house.

The asking price is a whopping $175 million, making it the priciest listing across all of New York state.

The property, located on 42.12 acres, is located on Jule Pond. The 20,000-square-foot, 12-bedroom home was originally built for the family of the Ford motorcar company.

The current owner is portfolio manager Brenda Earl, a former partner at equity fund Zweig-Dimenna. She purchased the property back in 2002, according to reports.

The property has the largest ocean frontage in the Hamptons — it is nearly a quarter mile long. It addition, it includes extraordinary views of Mecox Bay to the east and the Atlantic Ocean to the south, along with basketball and tennis courts, a 60-foot pool with hot tub, and a garage that can fit more than six cars.

The estate, which dates back to 1960, was renovated in 2008. However, the structure still conserves original details, like its molded ceilings, Italian marble fireplaces, and French-style parquet floors. The living room measures 48 feet in length, and there are two master suites, as well as a family room, and recreation rooms.

If the estate at 90 Jule Pond Road sells for the asking price, it will top the national record set in 2014 by activist-investor Barry Rosenstein. He purchased an 18-acre beachfront spread in East Hampton for an astronomical $147 million.

Bespoke Real Estate is marketing the Jule Pond listing.

To see the home, click on the video below:

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