Tepper Teardown Complete in Sagaponack

See before and after photos of the estate.

The demolition of billionaire hedge fund manager David Tepper's Sagaponack estate is now complete. The parcel has been cleared to make room for a new mansion and additional structures. Tepper reportedly bought the estate from Joanne Corzine, the ex-wife of former New Jersey Governor and former U.S. Senator Jon Corzine. The Building Department issued the demolition permit for 239 Gibson Ln on April 29.

RELATED: RELATED: Tepper's Replacement Mansion Moving Slowly

Jay June 03, 2011 at 11:08 PM
Again, a perfect example of the have's and have's not. Believe me the rich have no concept of the poor man's cry.
Linda June 03, 2011 at 11:26 PM
Why can't some people be happy for others. If God had blessed me with the money I would do it too. I see nothing wrong with it. Some people are poor because they cannot manage money. If they had money they would blow it any way. Quit having a pity party. I can only imagine something like this myself, but I can dream of it. If he ever wants to invite me to come and stay a weekend, I would go. Linda Taylor
Doug June 04, 2011 at 12:05 AM
My best to Mr. Tepper. I say do with yours as you will. In the mean time, I can use $500,000.00 to get my own business off the ground. Would you care to make a low interest loan so I can make my own fortune and do for others the way I have always wanted to do. Thanks :-)
Gayen June 04, 2011 at 12:09 AM
(I've worked for architects, and the builders. I own my own (very small) cottage. I know the privilege & joy of choosing where I live ....24/7! in one home!). However, I just saw the Academy Award winning Documentary "Inside Job"....the men (almost all are men) who were responsible for the crash of Wall Street/Banks, etc... have NOT yet paid any penalties, and that they continue to pull down the huge salaries+bonuses+benefits. So...let's call a robber... a robber (as in "robber" baron)! It may be my money... or your money that pays for his new house. It's his privilege (yes, indeed)...but it's our responsibility to make certain our local/state/federal enforcement agencies, and legislators improve the laws/regulations/mortgage rules... to prevent the robberies of 2008....that most manipulative Wall Street barons haven't yet repaid the taxpayer for! elderly gardener in RI
Kathy Strack June 04, 2011 at 12:54 AM
You sound like such a snob. The house looked great, spacious, a calm grey color, pool, tennis, & ocean. How can that not be satisfactory? How can you assume it is a mess inside? It's clearly not a "low rent" neighborhood! Let's hope much of the house was recycled to build other homes. Interesting the town's planning board approved the razing of this house. Why? To build a "McMansion" that generates more taxes for your town? In a slow economy, I suppose they'll grab any new taxes they can.
Kathy Strack June 04, 2011 at 12:55 AM
But isn't it disgusting to approve such waste of materials?
Kathy Strack June 04, 2011 at 12:58 AM
You are so correct! Wouldn't it have been wonderful if the new owners thought to themselves, "Wow! We own this superb house in a super location, so let's donate $5,000,000 (or whatever) for prefab houses for Joplin!"
Kathy Strack June 04, 2011 at 01:02 AM
Plus, why do some rich through money away of idiotic, vacuous things? Such as the Enron(I believe that is correct) exec who gave his wife a b.day party on an island in the Mediterrean that was a Baccanalian excess? Millions & millions spent on 1 day! To think how that money could've helped Katrina victims, etc.
Kathy Strack June 04, 2011 at 01:03 AM
Right, & hire illegals to clean, cook, & landscape all the rooms that hardly get used & clean all the possessions they have forgotten they even own!
VA June 04, 2011 at 01:05 AM
How many people does he currently employ? Are his employees paid a decent wage or are they breaking their backs and stressed out in order to make his company a profit? So YES he can take all the money they have earned for him and build whatever He wants. What kind of homes do his employees own? Sometimes when you have so much you lose touch with the reality of those around you. Has He??? Is he aware of the struggles his receptionist may be experiencing during this economy or even some of his executives???? Should he be sharing a little more of his wealth with his employees? Maybe he does? I would like to know.
Kathy Strack June 04, 2011 at 01:05 AM
Let's hope THOUSANDS read these comments & that the comments plant seeds in such minds to SHARE their wealth. Remember all that you can't take it with you!
Kathy Strack June 04, 2011 at 01:09 AM
True; waste of resources. Should've left the house as it was. Do we think the new owners recycled much of the old house to build new homes? Did they THINK to buy renewable materials & build an energy efficient house? Looks like prime area for solar heating at least.
Kathy Strack June 04, 2011 at 01:12 AM
If you owned an island, let's hopefully assume there were no houses there, so you wouldn't be ripping down a functioning home!
Kathy Strack June 04, 2011 at 01:13 AM
My sentiments exactly. WHEN is MORE enough?
Kathy Strack June 04, 2011 at 01:14 AM
That would truly be a sin.
Kathy Strack June 04, 2011 at 01:27 AM
I totally agree with you. Many have good jobs, make good money, say, $250,000+ AND have social consciences--use resources thoughtfully. Rebuild a garage? Donate the old lumber to groups that build homes for the less fortunate, ie., millions of citizens. The government LET Wall St/Banks, etc. rape the borrowers of our country. Sure, I believe in "buyer beware", BUT many knew these borrowers plainly did NOT understand what they were signing. It was like leading sheep to slaughter. How these manipulators could sleep at night is beyond me! They should all be in jail, but most just keep going about their business. My dream is to know that an electric fence has been built around the Beltway in D.C. to keep ALL greedy lobbyists OUT! We can't count on our legislators to sew their pockets closed & think for themselves! Represent the citizens, NOT the lobbyists!!!
Kathy Strack June 04, 2011 at 01:32 AM
Get our government to force companies to have their headquarters in the U.S. -- no more tax shelters in Carribbean countries. I'd like to have Teddy Roosevelt here to bust these immoral operations.
Kathy Strack June 04, 2011 at 01:35 AM
Why can't we have opinions about such disgusting waste? All the resources used to make this huge building are finite -- many not renewable. When they're gone, that's it. Even the rich should recycle, reuse, and recycle.
D. Easthom June 04, 2011 at 02:14 AM
He needs to build his treasures in heaven, where neither moth nor rust can take it away. Those rewards are timeless, and for an eternity. They never grow old. I would have paid someone to move the house to someone who could use it. With all of the foreclosures out there, that would have been like building his treasure in heaven. But, to each his own. God did give us, as mortals, a free will, but we will have to answer for it all.
Suzanne Kosatka June 04, 2011 at 04:27 AM
Mr. Howard you've got to be kidding... Money made in Hedgefunds??? honerable??? Lately nothing on Wallstreet or banking is Honerable,, thank You Ronald Regan and Clinton even Carter and Bush for all your DEREGULATION,, I mean what the heck, since these people are (most politicians) or were in office there are immune from any wrong doing ( look up when our goverment voted to make themselves immune from almost any wrongdoing, I beleive it was in the 1980's) Look up the IMMUNITY LAWS, all the deregulating of industries, top that with John Roberts law regarding Corporations and political contributions. and will be lucky if our country stays a float. do some research people don't just believe whats on at 6pm news....Look up how much Corp. used to pay in taxes in the 1960's vs now and what middle class pays in taxes now vs in the 1960's. I digress.. This guys got a good accontant and knows the right people. PS Wecannot give away everything in hopes that some Company won't take off for China, or Layoff, etc... We don't have a goverment WE HAVE LOBBISTS. AHA... I feel better now.
janet allen June 04, 2011 at 04:54 AM
Here we are in the middle of a foreclosure thanks to my brother who decided to walk away from his responsibilities. Because of this, My disabled mother, disabled dad and my 14 year old daughter has no where. What is wrong with this picture? God help us poor people.
Sam, Curcuro June 04, 2011 at 04:58 AM
Uhhh....43 1/2 million for a lot plus demolition. If I earned $100,000 a year, I'd only have to work 430 years to do the same thing. I wonder if he's up to donating 43 mil to the Smile Train? Sam Curcuro
Patrick C June 04, 2011 at 07:51 AM
It seems to me that what's missing from most of the above comments is FACTS. There's certainly plenty of ENVY, with lots of people & their opinions about what the builder(s) of this house should be doing with their own money. Does anybody KNOW? For all WE know, the materials from the demo may have been donated to charity. The REAL problem is that if they did donate it to "charity", maybe 8.00% actually was used for charitable purposes. Don't gripe about people who have money in general, or what they do with it. What we should ALL gripe about is what is (or is not) being done, and has not been done for DECADES, with OUR TAX MONEY, by CROOKS who we freely elect. Every politician in the govt. is busy figuring out how to "get around" regulations, rules, and laws. In other words, our govt. has been robbing us all blind, and guess what; OUR CHILDREN will be paying for it. The actual culprits will be long dead, with most of their ill-gotten gains locked up in trust funds for THEIR offspring. This sort of behavior is what manufactures the ROYALTY of the U.S.A., with names such as Kennedy being a prime example. Where'd old Joe get his money?? We can't change the past; the only thing we can do is to try and live the best lives that we can, in a moral fashion, and pass those morals to our own children.
Terry Elkins June 04, 2011 at 12:06 PM
So many comments concerning money. I will try to help someone out today.
Mary Beth June 04, 2011 at 12:07 PM
Why do some excuse everything in the nane of money? "it's his money" "he earned it". Look into how he earned his money and how much of it is thanks to you and I, the American taxpayer, before you lionize this greedy hedge- fund manager.
Blown Away June 04, 2011 at 04:53 PM
Well excess is nothing new in this country. If you think this is big you should check out the Biltmore house in NC. Completed in 1895 this place exemplifies excess. LINK: http://www.biltmore.com/
Suzanne Kosatka June 06, 2011 at 01:45 AM
I believe Mr. Vanderbilt created a history of jobs along with that beauitful house, even if some of them may have been low wage. How many people does a Hedge-fund manaager employee, besides himself and whose money does he use? Mr Vanderbilt built a historical business helping this entire country. Again we are be held captive by the Corporate World who want Obama out so bad that they will withold any future growth until a promise of no new taxes is made. The big companies have no loyality to any county only profits. We are being blackmailed by Oil, Big Corp, America,Banks and given mis-information by the media. Dig deeper. Ps Start inventing so you can become the next Vanderbilt and promise to Keep your business in the country that help you get started. Thats basically what Germany did and they had a 16% GNP increase when we were declining. Thank You
Susanna Coleman June 06, 2011 at 07:36 AM
of concern is the large strip of dune bush that he has cleared. this exposes him to major erosion problems, especially with all that raw surface behind. one big storm and he'll have 1/3 less property than he bought. he needs to restore that anchor in front - no matter what the palace behind looks like - pronto!
Suzanne Kosatka June 07, 2011 at 05:34 AM
do you think that anyone who has just torn down a house like that is concerned about erosion problems, I could almost bet that this guy has an ego so big that he will think I'll just truck more sand if a storm comes and washes away the beach. So we'll be reading about the five million spent on building a breakwall, People with that much money are BORED with conservative caring thinkers, 1/3 less property it will give him a nice tax break.
Brendan J. O'Reilly (Editor) October 27, 2011 at 03:20 AM
Check out our new update on Tepper's estate: http://patch.com/A-nnj5


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