One of the vilified execs who led Lehman Brothers prior to its fiery dimise, Joseph M. Gregory served as President and Chief Operating Officer of the now-defunct firm and developed a reputation as a profligate spender: riding in a chauffeured Bentley, encouraging his wife to take shopping trips to L.A. aboard a private jet, and commuting to work from this Lloyd Harbor, N.Y. estate via helicopter. With Lehman in shambles, Gregory has been forced to dismantle his haute lifestyle, piece by piece. First to go was the helicopter, then the Upper East Side apartment, then a $20M vacation home in Bridgehampton, and now, his prized Gold Coast compound. Listed for $22M, the nine-acre property includes a 15,000-square-foot main house and a sub-dividable 6,000-square-foot guest house, plus a deepwater dock, impeccable landscaping, and terraced swimming pool.
· 26 Lloyd Haven Drive [Sotheby's International Realty]
· Former Lehman Operating Chief Puts Mansion Up for Sale [NYT Deal Book]