Finance: A hedge funder once paid nearly $800,000 in rent to stay at this fashion mogul's home in the Hamptons — and now you can buy it for $45 million

Elie Tahari's Hamptons mansion was rented to a hedge fund manager for nearly $800,000 for just two months.

Fashion designer Elie Tahari's Hamptons home has just gone on the market for $45 million.

Tahari originally purchased the home for $12.1 million in 2005. The designer said in a statement to the Wall Street Journal that he's selling it because his focus is currently on his business.

"I haven't been there for the last two summers," he said in the statement.

During one of those two summers, the Sagaponack home was rented to a hedge fund manager for nearly $800,000 for the months of July and August, the property's listing agents, Keith Green and Ann Ciardullo from Sotheby's International Realty, told the Wall Street Journal.

Take a look at the private beachfront, pool, and three-bedroom home, below.

The home is 4,500 square feet ...

... and sits on two and a half acres of property.

There are three bedrooms ...

... and three bathrooms.

According to Green, however, there are partially approved plans to extend the home to 10,000 square feet, which could include a spa and an expansion to eight bedrooms.

Architecture firm Stelle Lomont Rouhani Architects — who also worked on Calvin Klein's oceanfront estate — designed the expansion.

Two large glass doors can be rolled up to open up the living room to the outside.

There's a 60-foot lap pool in the back.

On the other side of the home is a private entrance to the beach. It's on Sagaponack's only private oceanfront.

Elie Tahari's Hamptons mansion was rented to a hedge fund manager for nearly $800,000 for just two months. Read Full Story