Uber-successful hedge fund manager Steve Cohen is doing some major renovations. In fact, the billionaire has actually torn down his East Hampton, New York, home with the plan to build an all-new estate to his exact specifications.

Of course, it’s not every day that someone tears down a $62.5 million home. Cohen purchased the Hamptons manse back in 2013. Considering the previous home stretched to 10,000 square feet, the new home will be quite the upgrade and will be accompanied by a pool and a pool house on the seven-acre lot.

Before being destroyed, the original home featured incredible amenities like antique oak and limestone floors, a barn-style family room, a media room, and an expansive master suite complete with ocean views.

Cohen owns other homes in Connecticut, Los Angeles, and New York, including another estate nearby in East Hampton valued at $18 million. His 9,000-square-foot Manhattan apartment at One Beacon Court was just reduced to $72 million.

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