An oceanfront estate in Southampton, listed at $150 million, stands because the priciest home on the market within the Hamptons — and is struggling to maneuver off the market.
The compound, called La Dune, is more likely to be used as a summer home and draws from a tiny pool of buyers, probably billionaires, who could afford to foot the bill. Even within the Hamptons, $100-million-plus sales are few and much between.
La Dune, named after the sandy dune it sits behind, spans about 4 acres across two adjoining lots with two homes, two swimming pools and a sunken tennis court.
It hasn’t been easy to seek out a buyer for the sprawling compound, which incorporates a classic Hamptons-style shingled major residence, originally built greater than 100 years ago, and a second home on the adjoining lot, in-built the early 2000s.
The pair of beachfront homes with two pools and a tennis court within the foreground of the photo are the La Dune estate.
“This home is the furthest thing from a tear-down, but when the home wasn’t here, this lot alone, each considered one of them can be value $50 million,” listing agent Shawn Elliott of Nest Seekers told CNBC.
And Elliott guarantees La Dune’s price is not only designed to grab headlines.
“I feel that is, 100%, a really realistic price point to draw buyers on this marketplace,” said Elliott, who co-lists the house with Geoff Gifkins.
Aerial view of the La Dune estate from over the ocean.
The estate is situated on 400-plus feet of super-prime beachfront along Gin Lane, sometimes known as “billionaire’s beach.” It’s some of the exclusive strips of white sand on the earth.
“In real estate we all the time comprehend it’s location, location, location; that is not a cliche,” Elliott said. “You might be truly on the 50-yard line of nothing but wealth.”
Back in 2016 La Dune’s owner, art magazine publisher and collector Louise Blouin, put the estate in the marketplace with Sotheby’s International at an asking price of $140 million. On the time, there have been no takers.
Through the years, the residence has been listed as a summer rental. This yr a one-month stay would set you back $1.2 million.
The major home’s third-floor primary suite delivers impressive ocean views.
Since 2016, the house’s been on and off the market, and Blouin has reportedly faced a possible foreclosure and bankruptcy court proceedings to take care of control of the compound.
She relisted La Dune in August with a latest brokerage firm and raised the ask to $150 million.
If the team at Nest Seekers gets anywhere near what their client wants for the compound, it is going to break an all-time record within the Hamptons.
A front room within the major residence.
In keeping with public records analyzed by Jonathan Miller, president of the actual estate appraisal and consulting company Miller Samuel, only five compounds have ever sold for greater than $100 million within the Hamptons.
The all-time record remains to be held by the 2014 sale of three separate but contiguous lots spanning 16 acres positioned at 60-64 Further Lane in East Hampton that traded for $137 million.
The 2 most up-to-date nine-figure deals, in accordance with public records, were each in Water Mill, a hamlet also within the Town of Southampton about two miles east of La Dune.
The 42-acre Fordune estate sold in 2021 for a record-breaking $105 million.
First got here the mega-sale of a 42-acre, 20,000-square-foot oceanfront estate referred to as Fordune, positioned at 90 Jule Pond Drive. The previous Ford family estate was originally listed for $175 million in 2017 and sat in the marketplace for nearly 4 years before selling for $105 million in 2021, a 40% discount but still an all-time record for single-lot properties within the Hamptons.
In 2022, a good greater sale eclipsed that one within the quiet off-market purchase of 70 Cobb Road, recorded at $118 million. That compound, which sits on a creek fairly than the ocean, was composed of 4 contiguous lots spanning about 21 acres. The sale included two homes that together delivered greater than 32,000 square feet of living space. The mega-deal stays the Hamptons’ second-highest sale of all time.
The Atlantic Ocean offers a shocking backdrop for a pair of mansions on the market on Gin Lane in Southampton.
A sitting room in La Dune’s family home.
The La Dune compound spans 4 acres with 21,000 square feet of living space across two homes, in accordance with the listing.
Gravel drive resulting in the major house at 376 Gin Lane.
The four-story major residence, positioned at 366 Gin Lane, is greater than 11,000 square feet.
The second residence on the La Dune estate includes its own swimming pool.
The three-story second home at 376 Gin Lane, which owner Blouin refers to because the “family home,” is greater than 9,600 square feet.
One in all the first suites on the second floor of the family home.
The pair of mansions features a total of 19 bedrooms and 16 baths.
Library within the estate’s second residence.
The bottom level of the so-called family home features a gym, steam room, bar, billiards room and residential theater.
Home theater within the second residence.
The family kitchen within the major residence is considered one of several kitchens across the estate.
There are several kitchens on the estate including a big staff kitchen for catering events on the primary floor of the major house. There’s also a more modest family kitchen, one floor above it.
The major home’s swimming pool is flanked by two bars and white columns.
Blouin told CNBC she’s selling her Hamptons home partly because she and her children spend most of their time in Europe — not in Southampton.
Deck and stairway resulting in a 400-foot stretch of sand on Southampton’s exclusive beachfront.
In keeping with public records, property taxes across each lots that form the La Dune compound total almost $130,000 per yr.