- Meadow Lane in Southampton is known as the Hamptons’ “Billionaire Lane” thanks to its ultrawealthy homeowners.
- Its residents over the years have included late billionaire conservative donor David Koch, who was worth $58.7 billion when he died in 2019; hedge-fund founder Daniel Och, who’s worth $3.2 billion; and hotelier Ian Schrager.
- Earlier this year, fashion designer Calvin Klein sold his ultra-modern compound on the lane to billionaire hedge-fund CEO Ken Griffin, a source familiar with the deal confirmed to Business Insider.
- In early June, I drove down Meadow Lane to see what it was really like on the exclusive five-mile stretch of road.
- I spotted a billionaire’s half-built compound that might be demolished before it’s even finished and a helipad that brings Wall Street financiers to their mansions in 40 minutes.
- But I was surprised that I couldn’t actually see many of the famed million-dollar mansions – and that’s the whole point.
- Visit Business Insider’s homepage for more stories.
The Hamptons, the affluent vacation destination a couple hours outside of New York City, is no stranger to billionaires.
But over the years, one particular street has been a magnet for them.
Meadow Lane in Southampton has been dubbed “Billionaire Lane” thanks to its bevy of ultrawealthy residents. The lane runs along a narrow beachfront strip, making it an inherently exclusive stretch of land. It’s made up of large lots occupied by massive mansions, from the traditional Hamptons shingle-style houses to sleek, ultra-modern homes.
In early June, I spent an hour or so driving up and down Billionaire Lane.
Meadow Lane in the Hamptons has been dubbed "Billionaire Lane."
The nickname comes from its collection of ultrawealthy residents over the years, from late billionaire conservative donor David Koch - who was worth $58.7 billion when he died in 2019 - and hedge-fund founder Daniel Och, who's worth $3.2 billion.
Ken Griffin, the billionaire CEO of the investment firm Citadel, became a homeowner on Meadow Lane this spring when he bought a sprawling, ultra-modern compound from fashion designer Calvin Klein. And hotelier Ian Schrager - who's not quite a billionaire but is certainly a multimillionaire - has also reportedly owned a home on the street.
The five-mile lane runs along a narrow beachfront strip in Southampton that's dotted with multimillion dollar mansions.
Three homes are currently listed for sale on Meadow Lane for $10.7 million, $21.9 million, and $23 million, per Zillow.
In early June, I drove down the lane to see what it's really like in the billionaire enclave.
I found that the homes on Meadow Lane are a mix of architectural styles.
Some are traditional Hamptons shingle-style houses - albeit supersized versions.
Others, however, are sleek and ultra-modern homes.
This glass-walled home, for example, is one of the newest houses built on Meadow Lane, completed just last year.
It's on the market for $53.9 million and includes a tennis court, a 6.5-care garage underneath the home, and an elevated walkway that leads to the beach.
Despite the varying styles, almost all the homes on Meadow Lane share some key features: sprawling lots, expansive square footage, privacy hedges or trees, and gated driveways.
I had expected to see a street lined with lavish homes, and the mansions on Meadow Lane didn't disappoint.
But there were some details in particular that caught my eye during my drive down Billionaire Lane. Here's what I saw that surprised me the most.
Many multimillion-dollar homes were kept out of sight of prying eyes by towering hedges.
While there were some exceptions, I could barely see many of the homes along Billionaire Lane. They were tucked away behind tall hedges, their driveways hidden behind gates operated by security systems.
I was reminded me that the wealthy often value privacy above all else.
I saw construction workers and landscapers — but very few residents.
The liveliest parts of Meadow Lane were the construction zones, where workers and landscapers were bustling about between the mansions and their vehicles on the street.
But apart from these workers, I hardly saw any other people on my drive apart from two residents taking a stroll down the street.
It became clear that Billionaire Lane is not a place to be seen - but rather a place for billionaires and millionaires to be sequestered away in the privacy of their mansions.
Billionaire Lane is home to a half-built mansion that might be demolished, even after $19 million was spent on construction costs.
About halfway down the lane, a massive, half-built compound caught my eye. It was clearly a huge construction zone, but I didn't see anyone actively working on the property.
After looking it up later, I learned that the 8.1-acre parcel of land had been purchased in 2012 for more than $37 million, per the Southampton Press. The owner, listed in public records as Meadowcore LLC, was later revealed to be former hedge-fund manager Thomas Sandell, who's worth $1.2 billion. After buying the property, Sandell poured another $19 million into building the nearly 18,000-square-foot compound.
But construction has stalled. Back in February 2019, the home was roughly 60% complete, but Sandell had halted construction and was considering demolishing and starting over, the Press reported.
Sandell did not immediately respond to Business Insider's request for comment on the status of the property. His Hamptons lawyer, Gilbert Flanagan, also did not respond to a request for comment.
Billionaire Lane also has a helipad that can bring financiers from Wall Street to the Hamptons in 40 minutes.
The Southampton Heliport is open to the public for a landing fee of between $150 and $200 depending on the size of the aircraft.
And it's just a 40-minute helicopter ride from Wall Street, per Curbed.
I caught a glimpse of an ultra-modern home that Calvin Klein recently sold to billionaire Ken Griffin — who also owns the most expensive home ever sold in the US — for a reported $84 million.
The property once belonged to Henry du Pont, a member of the wealthy industrialist du Pont family. It changed hands between several other owners before Klein bought it in 2003 for just under $30 million, according to The New York Times.
Klein renovated the house on the property and briefly moved in, but then decided to tear it down and build a new one. He then spent 30 years and about $45 million building a "minimalist palace," as the Times put it.
According to the Post, the neighbors on Meadow Lane were annoyed at how long construction of the home dragged on, as construction workers congested the narrow street.
In February 2020, The Wall Street Journal reported that Klein was selling the home in an off-market deal to billionaire hedge-fund manager Ken Griffin, who's worth an estimated $12.8 billion and who bought the most expensive home ever sold in the US in January 2019.
The Southampton Press reported that the Meadow Lane sale closed in March at $84 million. A source familiar with the deal confirmed that Griffin bought the home from Klein but could not confirm the price. A spokesperson for Klein did not immediately respond to Business Insider's request for comment.