The former lead owner of the Boston Celtics, Wyc Grousbeck, is reportedly the buyer of the $58 million home in Bridgehampton that Hamptons developer Joe Farrell sold recently.
Behind The Hedges was the first to report the sale of the oceanfront estate at 165 Surfside Drivel last week. This week, The New York Post’s Gimme Shelter sited a source who says Grousbeck, who sold his controlling interest in the NBA franchise for $6.1 billion earlier this year, and his wife, Emilia Fazzalari, were the buyers.
New York City agent Richard Steinberg of Compass brought the buyer, in collaboration with Greg Gould and Dominic Couzens of Hedgerow Exclusive Properties. Farrell had an open listing, which was last asking $69.99 million.
Farrell, who also owns the home next door, says the $58 million sale price is a record for the size of the land and for Surfside Drive overall. The 8,600-square-foot house, with 125 feet of direct ocean frontage, sits on just 1.5-acre. By comparison, a 2.2-acre estate on nearby Mid Ocean Drive, sold a few weeks ago for $57 million.
Built by Farrell Companies in 2024, the modern house was designed by Will Minnear Architect and features eight bedrooms and eight-and-a-half baths with an oceanfront bedroom suite that opens to the pool terrace. The second level boasts a primary suite with a private area for an office or sitting area, dual dressing rooms and a spa-like bathroom. The third level offers a 4,400-square-foot rooftop entertaining space with a putting green.
An infinity-edge pool overlooks the Atlantic Ocean. There is also a heated six-car garage.
Grousbeck, a venture capitalist, founded the group, Boston Basketball Partners LLC, which bough the Boston Celtics for $360 million in 2002. During his time as the governor and CEO of the organization, the Celtics won NBA championships in 2008 and 2024.
Earlier this year, he sold a large portion of the team to Bill Chisholm, a private equity executive who lead a group of investors in the $6.1 billion deal. Grousbeck still owns shares and will retain a role in the franchise as the Celtics look to make another championship run in 2026.
Grousbeck is expected to retain the CEO title, as planned, and be an alternate governor after the sale is complete, according to sources.
Meanwhile, Farrell also bought a new oceanfront house last week — a $17 million beach house in Montauk, setting a record for Ditch Plains. The 42 Deforest Road, a Ditch Plains neighborhood record. Greg Gould of The Legacy Group and Hedgerow Exclusive Properties and Douglas Elliman’s Erica Grossman and Kyle Rosko put the deal together.
The 4,800-square-foot house at 40 Deforest Road remains available, the final opportunity in this exclusive enclave.
Located to the west of Farrell’s house, the six-bedroom, six-bath house is known as Casa Las Olas. The house features glass doors that open to the expansive deck that runs the entire width of the home with a heated gunite pool, sun shelf and spa. The second-level primary overlooks the ocean with a private terrace.
Grossman at Douglas Elliman and Hedgerow Exclusive Properties also represented that listing.
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