Half-built $77m mansion may face wrecking ball

An abandoned US mansion has found a buyer after three years on the market – but it could be knocked down. 

Since 2018, this sprawling Moroccan-style mansion in the Hamptons has been left abandoned. 

Construction on the 10-bedroom estate halted six years ago, leaving the house partially built and uninhabitable. 

Now, after three years languishing on the market, the oceanfront property has found a buyer, the New York Post reports. 

The house was most recently listed at $US49.5 million ($77 million) – a massive discount on the $US85 million ($133 million) the owner was asking when it first listed in 2021. 

The final sale price has not been disclosed. 

The owner – who is reported to be Thomas Sandell, a billionaire hedge fund manager hailing from Sweden – dreamed of creating a ritzy two-storey estate on the largest oceanfront plot on Meadow Lane. 

He sunk at least $US19 million ($29 million) into building the Mediterranean-style mansion, according to The Real Deal. 

But all his work may come to nothing. 

Conceptual renderings included in the marketing materials suggest that the new owner could demolish the existing structure and replace it with a brand new modern home. 

Designs for the new home depict a sleek glass-and-timber pavilion with an infinity pool, separate guesthouse, and panoramic views over the Atlantic Ocean and Shinnecock Bay. 

“The opportunities are boundless to create a custom escape on the most coveted street in the Hamptons,” the brochure says. 

The listing is a co-exclusive with Bespoke Real Estate and Tim Davis from Corcoran. 

It’s unknown at this stage whether the new owner will choose to complete the existing Moroccan mansion, or tear it down and build a new house.