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Bloomberg expected to buy $20M Southampton home

Ballyshear, a Southampton estate once owned by Charles

Ballyshear, a Southampton estate once owned by Charles Blair Macdonald. Sources report July 20, 2011, that New York City Mayor Michael Bloomberg has bought the $20-million, 35-acre estate on the golf course in Shinnecock Hills. Credit: Long Island Country Homes and Their Architects, 1860-1940 (W.W. Norton, 1997)

If Michael Bloomberg doesn't run for president or for a fourth term as New York City mayor, Hamptonites will likely see more of him.

The billionaire media mogul is expected to close without a hitch on a $20-million deal on Cryptomeria, a historic 35-acre estate in Southampton. Then, he'll have his Upper East Side town house and a place to go each summer, just like thousands of other Manhattanites.

But there's a billion-dollar question. He sometimes takes the subway to work. Will he take the Hampton Jitney?

Read more about the deal here.

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