Ralph Cioffi’s Hamptons House Sells in Five Months

Former Bear Stearns’ hedge fund manager Ralph Cioffi is awaiting trial in September for his role in alleged  securities and wire-fraud charges that supposedly helped lead to the eventual collapse and sale of Bear Stearns to JPMorgan Chase & Co.

While awaiting trial, Cioffi put his gorgeous Southampton home on the market for $11,875,000 (listed by Sotheby’s) and, lo and behold, it looks like Cioffi’s house sold less than five months after going on the market, according to the Wall Street Journal.

Cioffi purchased his house for $10.7 million in 2007 and it is speculated his house could sell for less than that. Vanity Fair’s recent article “The Hamptons Stress Test” mentioned Cioffi’s home on First Neck Lane, and cites as his neighbors other Wall Street notables such as Walter Noel (heavy investor with Bernie Madoff),  financier Jay Sugerman and billionaire hedge fund manager John Paulson.

While Cioffi awaits trial, he has developed an “investment vehicle” called RCAM Capital LP.