SAGAPONACK - A $44 million ocean-front mansion on the East End will be demolished.

According to Newsday, the 6,000-square foot home in Sagaponack will be torn down.

A billionaire hedge fund manager from New Jersey reportedly bought the home last year.

The plan is to replace the home with a more than 11,000-square foot home with first-floor water views.

Right now, sand dunes block the view of the water.