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Southampton is expecting a new neighbor as NYC Mayor Michael Bloomberg has reportedly purchased the famed ‘Ballyshear’ property at 119 Whites Lane in Shinnecock Hills for a mere [well, for a billionaire] $20 million. Bloomberg is no newcomer to the Hamptons and spends most summers on the East End. KDH has spotted him a few times at estate sales~ guess even billionaires love a bargain!

Built in 1910, Ballyshear originally sat on 200 acres, most of which has been sold-off over the years to make way for the nearby and exclusive, Peconic Bay golf course. No surprise there, since the mansion was originally designed for Charles Blair Macdonald, acknowledged as the man who built the first 18-hole course in the U.S.–and frequenting the fairway is one of the Mayor’s fave pastimes.

The 22,000-square-foot Georgian mansion sitting on 35-acres of land includes stunning views of the bay,  gardens designed by the Olmsted Brothers (the son and step-son of Frederick Law Olmsted of Central Park fame) a swimming pool, tennis court and boasts 11 bedrooms, 8 ½ bathrooms, exquisite marble floors and horse-riding stables & trails which are perfect for Bloomberg’s equestrian champ daughter, Georgina.

According to the NY Post, it has been rumored that Bloomberg’s real estate deal involves a  painstakingly thorough confidentiality agreement. However, the closing is expected to be a rather routine affair.

Psst! KDH Readers…for a sneak-peak into the storied estate check-out Old Long Island for a bit of Ballyshear History