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Donny Deutsch buys Bridgehampton home for $20.5M

Last summer, former Lehman Brothers president and chief

Last summer, former Lehman Brothers president and chief operating officer Joseph Gregory listed his Bridgehampton home for $32.5 million. The price of the eight- bedroom, 8 �-bath mansion has now been lowered to $27.9 million. (Credit: handout/handout)

A publicist for Donny Deutsch has confirmed that the ad executive and TV personality recently bought an oceanfront Bridgehampton home and, according to the Long Island Real Estate Report, he paid $20.5 million.

Deutsch, through the entity 1251 Ocean Road LLC, purchased the estate from former Lehman Brothers president Joseph Gregory, public records show.

Gregory, who lives in Lloyd Harbor, put the 2.5-acre property on the market for $32.5 million in 2008, the year the global finances services firm declared bankruptcy.

The 9,500-square-foot shingled home fronts 200 feet of beach. There are eight bedrooms and 8.5 baths, including two master suites and six ensuite bathrooms. The second story contains a salon for entertaining. There is a 50-foot pool and a spa.

Beate Moore of Sotheby's International Realty was the listing agent; The Corcoran Group's Susan and Matthew Breitenbach represented Deutsch.

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Tags: Long Island Real Estate Report , Rich Cribs , celeb , Lehman Brothers , Donny Deutsch , Joseph Gregory , Sotheby's International Realty , The Corcoran Group , Bridgehampton

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