He got taxed out of town.
Legendary advertising guru Jerry Della Femina is the latest Hamptons fat cat to unload his East End spread at the precipice of the dreaded fiscal cliff, The Post has learned.
The flamboyant Madison Avenue guru has sold his 8,500-square-foot estate — the host of many legendary Hamptons bashes — for $25 million, and blames his flight squarely on President Obama’s fiscal policies.
“I want the proceeds of this sale to go to my kids and my grandkids,” said the man behind iconic ad campaigns for Meow Mix and Absolut Vodka. “I don’t want my money going to Obama, and that’s what’s going to happen in the New Year. That’s why I sold right now, that’s why I wanted to get this done.”
Doug Kuntz
TAXING DECISION: A Hamptons party at the oceanfront mansion of Jerry Della Femina in happier times — before Obama’s “class warfare.”
The listing broker for the East Hampton oceanfront property, Corcoran’s Susan Breitenbach, declined to comment on the megabucks deal.
Sources said that the buyers are a New York based family.
Della Femina’s buzzer-beating sale is just one of many big-ticket closings sweeping the Hamptons as affluent homeowners seek to move their blue-chip digs before taking a capital-gains beating in the coming year.
A fall off the fiscal cliff could trigger a 40 percent rise in taxes on short-term investments and a 5 percent spike in taxes on long-term capital gains.
Della Femina said that brokers are in the midst of a frenzied sell-off as the fiscal cliff approaches.
“I’m basically the loser in Obama’s class warfare,” he fumed. “That’s what this boils down to. If Romney was elected, we would have had our parties in East Hampton this year.”
