Fallen hedge fund star Phil Falcone has parted ways with his final trophy home — for $14M all-cash

Phil Falcone — a fallen hedge money prima erstwhile worthy much than $2 cardinal stemming from his subprime owe stake — and his woman Lisa Maria Falcone, person sold nan past of their trophy homes: a modern formation mansion successful Sagaponack, Gimme Shelter has learned.

The residence, astatine 142 Crestview Lane, has traded hands for $14 million successful an all-cash deal, sources told Gimme exclusively. Info connected nan caller proprietor was not available.

“This is simply a magnificent location that could not beryllium built coming — connected a pond-front acre successful Sagaponack truthful adjacent to nan ocean,” said listing agent Gary DePersia of Corcoran. (The buyers’ agent for nan Sagaponack residence was Morgan McCarthy of Compass.) “It was built to nan highest standards, pinch small respect for costs and included almost each doorbell and whistle you could deliberation of. It took a while to find a buyer, arsenic location were immoderate repair issues. The caller proprietor pursued this spot doggedly and promises to reconstruct it to its original luster. I, for one, cannot hold to spot nan results.”

The seven-bedroom, 14,000-square-foot mansion first listed for $27.95 cardinal successful 2021.

That was nan twelvemonth that Falcone’s indebtedness had ballooned to $100 million, according to reports. Falcone owed aggregate creditors — including an attorney, a limousine company, ex-employees and nan IRS, according to nan Wall Street Journal. 

Trouble blew up successful 2013, erstwhile nan Securities and Exchange Commission banned his hedge fund, Harbinger Capital, from operating for 5 years. It was portion of a colony aft Falcone admitted he borrowed against his individual superior relationship successful nan money and admitted to negligence. By 2020, Harbinger’s assets nether guidance were down to $336 cardinal — a drastic driblet from its $26 cardinal heyday nether guidance a decade earlier, according to reports. 

Since then, Falcone has moved into processing “decentralized” broadcast and streaming content. He did not return The Post’s calls seeking comment.  

A marble waterfall wall and a sliding doorway unfastened to nan dwelling, which besides boasts 9 bathrooms and six powder rooms, and sits connected 1 acre — pinch h2o views. Inside, nan residence features a chef’s kitchen, a screening room, a billiards room pinch a bar, a vino cellar, a location agency — and a gym pinch steam, a sauna, a basking tub, a acold plunge and massage room fittings.

There’s besides a ample chamber suite connected nan main floor, overlooking nan excavation and Fairfield Pond — and different main chamber suite upstairs, pinch an onyx bath and dual closets.

Stairs lead to a 4,600-square-foot tile platform pinch panoramic views of workplace fields and nan ocean.

Outside, there’s an outdoor kitchen, a occurrence pit and a covered loggia for al-fresco dining. 

The home’s architect, Brian O’Keefe, worked pinch Charles Allem, main of C.A.D International, who oversaw nan interior design.

The mates has parted ways pinch different tony homes successful caller years. They sold their erstwhile Upper East Side townhouse, astatine 14-16 E. 67th St. — erstwhile owned by erstwhile Penthouse patient Bob Guccione — for $77.1 cardinal successful 2019. In 2022, they sold different Upper East Side townhouse, astatine 22 E. 67th St., for $21.42 cardinal — almost half disconnected its original $39 cardinal inquire successful 2018. They besides unloaded their St. Barts spot successful 2019, according to reports.