Now that he's reported to be dating fashion princess Tory Burch, it's not all that surprising that Lyor Cohen is the process of trading up in the Hamptons. The Warner Music CEO recently layed out $6.8 million for a place in North Haven. Unfortunately, the happy couple won't be able to stay there for a while, since Lyor's planning on tearing down the existing house to make room for an even bigger, more fashionable manse. (They'll continue staying at Lyor's Bridgehampton home in the meantime.) So what exactly does the $6.8 million teardown look like? Have a gander at the home (and the 170 feet of waterfront land with beach access) before it's gone.