Thursday, December 27, 2012

Hedge Funder Builds U.S. Largest and Most Expensive Home

When is too much too much?   It’s a question  the tiny hamlet of Hastings-on-Hudson is  asking these days.  The town will boast one of the largest and most valuable homes in the country when hedge fund founder David E. Shaw's new residence is completed according to rivertown‘s daily voice.

Shaw's Rivertowns residence, which is perched on a hill with a panoramic view of the Palisades overlooking the Hudson River, is being built on several prime properties along a stretch of Broadway just south of the Dobbs Ferry-Hastings line. The founder of D.E. Shaw & Co. had been planning the large house for several years.  Early reports estimated the home would cost $75 million, but the value of the home will be fully assessed when construction is complete. The 4.5-acre estate will include a 30,000-plus square-foot single-family house, said Hastings building inspector Deven Sharma. The land previously held two houses and a swimming pool that were removed to make room for the new project, according to Planning Board documents…

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