John Paulson sold Southampton home to Rachael Ray

Paulson’s most notable purchase made headlines in 2008 when he paid $41.3 million for three parcels totaling 10.44 acres on Lake Agawam in Southampton. The estate, known as Old Trees, was owned by Manhattan real estate investor Rodney Propp, who flipped the property to Paulson just days after purchasing it himself for $39.2 million.

The Old Trees estate features:

• a 15,000-square-foot
• 1911 Georgian mansion built by Goodhue Livingston
• 13 bedrooms
• a dining room that seats 60 people
• pool
• tennis court
• carriage house
• guesthouse

Paulson sold one of his multiple Southampton homes to television cooking star Rachael Ray and her husband, John Cusimano. Land records show Paulson paid $277,000 for it in 1994, selling it in 2005 for $998,000 to a private party. According to property records, Ray and Cusimano paid $2.1 million for the home in 2008.