Matt Lauer, the anchor on NBC’s “Today” show, is the buyer of a huge compound in the Hamptons that was owned by actor Richard Gere. The New York Post’s Page Six reports that Lauer bought the North Haven estate, which is known as Strongheart Manor, for $36.5 million.

The price tag appears to be a bargain — the property was originally listed for $65 million in 2013, according to the report.

“The 6.2-acre property includes a waterfront pool, basketball court, 12 bedrooms and bathrooms, a waterfront pond with a bridge and an ‘island inspired tea house,'” The Post reports. “Lauer will be selling off a Sag Harbor home and a Hamptons cottage, said a source, but will be keeping his 40-acre Bright Side Farm in Water Mill, where he recently gained town approval to plant shrubs after neighbors tried to block the move.”