Vampire sinks teeth out East

HAMPTONS regulars are stunned after Wall Streeter Heath Freeman — dubbed “the hedge fund vampire that bleeds newspapers dry” — bought the beloved East Hampton Point resort for less than $20 million.

Freeman is the president of Alden Global Capital, which was also named “the grim reaper of American newspapers” by Vanity Fair for its slash-and-burn practice of initiating deep cuts and mass layoffs at papers it buys, such as the Denver Post and San Jose’s Mercury News.

Alden just finalized a $430 million deal for full ownership of Tribune Publishing, which puts out the Chicago Tribune, the Hartford Courant and the troubled New York Daily News.

Now Page Six can exclusively reveal that 40year-old Freeman, along with a group of investors, has finalized a deal to buy East Hampton Point “for less than $20 million,” according to a source with knowledge of the sale.

The waterfront property — that once housed the celebrity-frequented sunset hot spot Moby’s — boasts a hotel with seven luxury suites, 13 private cottages, a restaurant, a marina, tennis courts and a heated outdoor pool.

The resort had been put up for sale about 15 years ago for $50 million by the late Ben Krupinski, a popular Hamptons home builder, who died in a plane crash in 2018.

The sale to Freeman’s group closed in December, and is a personal investment and doesn’t involve Alden, the source added.

They are currently renovating the rooms and the restaurant and plan to be fully open by the summer to take advantage of the much-anticipated Hamptons influx.

One local source told us, “I am sure this place will be expensive and attract a big power crowd of wealthy customers. But the news of this deal certainly won’t sit well with the journalists and editors who have been laid off by his company.”

A rep for Freeman declined to comment.