The second easternmost town in the Hamptons, Amagansett is a very hot market, with properties selling for sums unimaginable just a few years ago. Indeed, the going price for a knocked down house on about an acre of beachfront land is around $20 million.

And with residents like Andy Cohen, Sarah Jessica Parker and Sir Paul McCartney, who can blame shoppers with the means to splurge? Apparel CEO Mickey Drexler bought a beachfront home earlier this year for $9.5 million, and a hamlet record was set just months ago when a 2 .6 oceanfront acres changed hands at $32 million.

Well, tear up the record books, folks, because an architectural beachfront home that closed an off-market deal for a jaw-dropping $42 million raised the bar 30%. The one-of-a-kind residence is actually located along the Napeague stretch, which connects Amagansett and Montauk, so technically it’s outside of the hamlet proper, but still retains an Amagansett address.

Records show the property was acquired through an inscrutable anonymous LLC. The seller, however, is Singapore-based Adam Levinson, who bought the 1.2-acre plot in 2005 for just $2 million. He later spent several millions more to build a remarkable custom home designed by famed New York firm Christoff Finio and built by Men at Work. Although the house looks quite unattractive from the outside, photos of the interior show that the beautiful interior makes the most of its beachside setting.

The two long linear architectural masses that make up the ultramodern house are connected by a glass bridge. Some of the house’s massive glass walls retract to expose the large living spaces to sea breezes. A large terrace overlooks the ocean, while a long swimming pool cuts through the courtyard patio below the house.

All in all, it makes for a wonderful home. And if we can afford it, it’s worth every penny of its record $42 million sale price.

Perhaps tired of all the 23-hour flights between Singapore and New York, the billionaire financier and his wife Brittany have been vacuuming properties on the West Coast for the past few years. About three years ago they lost $40 million for vacant land in Bel Air and quickly lost another $20 million for a residence across the street, a tour de force engineered by Richard Neutra and sold by fashion icon Tom Ford. Then, earlier this year, Levinson’s Lavish Life shelled out $58.5 million for a massive contemporary mansion in Bel Air. The couple also own residences in Singapore and Tokyo.