An escapist Suffolk County, New York, estate was acquired by the Peloton founder John Foley this month. Foley paid $55 million for the atmospheric and classically Hamptons property, which had been on the market for about a month when it went under contract. It had been asking $52.5 million immediately prior to the sale. The purchase represents a massive upgrade from the East Hampton property he recently listed for $4.45 million.

The incoming 6,100 sq. ft. house was is clad in weathered shingles. Its architecture, which divides the roofline into wings that spread dramatically toward the back, is daringly contemporary for a shingle style; according to public records, the property last sold in 1992, when it fetched $2 million. It’s a safe bet the house dates to the second half of the 1990s or the first few years of this century.

The home’s exterior living spaces include a series of second-floor decks. The design flourish distinguishes the home as readily as the roofline does, with bedroom access and a step-up hexagonal section over the rotunda dayroom. On ground level, a half moon-shaped sundeck may be accessed from the dayroom.

The home’s interiors are simple and warm, with hardwood trim, windows and doors, and semi-gloss-finished hardwood plank floors. The grounds extend to around 3.9 acres, with lawns bordered by forest, a detached garage and a pool. The estate’s dunes and scrub eventually give way to 400 feet of ocean frontage.

Foley’s net worth hovers around the $1 billion mark.