The most expensive residential property in the U.S. has reportedly been snatched up by an activist investor. 

The New York Post reports that hedge fund manager Barry Rothstein of Jana Partners paid $147 million for the 18-acre East Hampton property. Equipped with gardens and a pond, the beachfront estate was the brainchild of Tweedy, Browne Company head Christopher H. Browne and his architect partner, Andrew Gordon. Browne left his entire estate to Gordon following his 2009 death at the age of 62, and Gordon lived at the property until his death at age 52 last September.

The Post notes that the $147 million sale sets a new record, surpassing the $120 million sale of Copper Beech Farm in Greenwich, Conn. two weeks ago. 

[via New York Post]

Send tips, photos and news developments to