A bunch of traders together with hedge Heath “the hedge fund vampire” Freeman bought the East Hampton Level resort that been available on the market for $27 million.
The patrons have finalized a deal for the small luxurious resort at Three Mile Harbor Hog Creek Street “for lower than $20 million,” sources advised the New York Submit.
Freeman, a Hamptons resident, is the president of Alden International Capital, finest identified for purchasing up newspapers, shedding scores of staff and making different deep funds cuts that critics say destroys native media, in keeping with the report.
Alden’s techniques have earned it nicknames like “vulture capitalists” and “company strip-miners,” whereas Freeman himself has been referred to as “the hedge fund vampire.” Alden is just not concerned within the East Hampton Level deal.
The patrons have reportedly employed staff to renovate the property and plan to open by the summer season. [NYP] — Dennis Lynch