New York state has sued the owner of a Southampton mansion over a 2023 construction accident that left a worker with permanent injuries.
The New York State Insurance Fund filed the lawsuit against 1610 Meadow Lane LLC, the corporate owner of the oceanfront estate, for an incident in May 2023. The property is tied to venture capitalist Michael Loeb, who has owned it since 2003. The complaint does not name Loeb directly, though his longstanding ownership connects him to the case. Loeb is the founder and CEO of investment firm Loeb.nyc, and earlier in his career, he co-founded Synapse Group, a consumer magazine marketing company, in 1992. That business was later acquired by Time Inc. in 2006, marking a significant milestone in his professional trajectory.
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According to the complaint, William Baculima suffered severe injuries after falling from an raised position during a renovation and painting project. The lawsuit claims the trauma will permanently affect his ability to work, along with ongoing mental anguish and physical pain. The fall occurred while Baculima was performing duties tied to the estate’s upkeep, a common necessity in a market where high-end properties frequently undergo extensive updates to maintain their value and appeal.
The state argues the property owner violated New York’s Scaffold Law—officially Labor Law Section 240(1)—by failing to provide proper safety equipment. This statute imposes strict liability on owners and contractors for gravity-related injuries when adequate protections are not in place. Additional counts include negligence and violations of industrial safety codes, showing the breadth of the alleged failures. The lawsuit emphasizes that these lapses exposed workers to preventable harm during what should have been a routine project.
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Baculima was employed by a third-party painting firm, but the state contends that 1610 Meadow Lane LLC acted as its own general contractor, removing any immunity from liability. In New York, owners who assume a general contractor role forgo certain legal protections typically afforded when delegating that responsibility to a separate entity. The lawsuit seeks to recover payouts made to Baculima, with a guarantee that he will receive two-thirds of any financial recovery beyond that amount, ensuring the worker benefits directly from the legal action.
The case highlights the financial risks in the Hamptons luxury market, where high-end renovations and teardowns are common. Meadow Lane, in particular, is known for record-breaking sales, including three of last year’s top 10 priciest deals in the area. The street’s reputation for multimillion-dollar transactions reflects the demand for exclusive waterfront properties, often purchased with the expectation of significant reinvestment in customization or expansion.
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Loeb’s father, Marshall Loeb, was a prominent business journalist and editor of Money and Fortune magazines, contributing to a family legacy in finance and media. Loeb purchased the mansion in 2003 for $21 million, a figure that, while substantial at the time, pales in comparison to the property’s later valuation. The estate gained additional fame as a filming location for Showtime’s Billions, which aired from 2016 to 2023. In the show’s first episode, the protagonist buys the mansion for $63 million in cash, outbidding another buyer for a property valued at $83 million. The depiction showed the mansion’s prestige and the extreme wealth associated with such acquisitions.
The lawsuit was filed last month in the Supreme Court of the State of New York. Loeb did not immediately respond to a request for comment.