2 years ago
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An oceanfront property successful Southampton, listed astatine $150 million, stands arsenic the priciest location for merchantability successful the Hamptons — and is struggling to determination disconnected the market.
The compound, called La Dune, is apt to beryllium utilized arsenic a summertime location and draws from a tiny excavation of buyers, astir apt billionaires, who could spend to ft the bill. Even successful the Hamptons, $100-million-plus income are fewer and acold between.
La Dune, named aft the sandy dune it sits behind, spans astir 4 acres, crossed 2 adjacent tons with 2 homes, 2 swimming pools and a sunken tennis court.
It hasn't been casual to find a purchaser for the sprawling compound, which includes a classical Hamptons-style shingled main residence, primitively built much than 100 years ago, and a 2nd location connected the adjacent lot, built successful the aboriginal 2000s.
The brace of beachfront homes with 2 pools and a tennis tribunal successful the foreground of the photograph are the La Dune estate.
Liam Gifkins
"This location is the furthest happening from a teardrop down, but if the location wasn't here, this batch alone, each 1 of them would beryllium worthy $50 million," listing cause Shawn Elliott of Nest Seekers told CNBC.
And Elliott promises La Dune's terms isn't conscionable designed to drawback headlines.
"I judge this is, 100%, a precise realistic terms constituent to pull buyers successful this marketplace place," said Elliott, who co-lists the location with Geoff Gifkins.
Aerial presumption of the La Dune property from implicit the ocean.
Liam Gifkins
The property is situated connected 400-plus feet of super-prime beachfront on Gin Lane, sometimes referred to arsenic "billionaire's beach." It's 1 of the astir exclusive strips of achromatic soil successful the world.
"In existent property we ever cognize it's location, location, location, that's not a cliche," Elliot said. "You are genuinely connected the 50 gait enactment of thing but wealth."
Back successful 2016 La Dune's owner, creation mag steadfast and collector Louise Blouin, enactment the property connected the marketplace with Sotheby's International astatine an asking terms of $140 million. At the time, determination were nary takers.
Over the years, the residence has been listed arsenic a summertime rental. This twelvemonth a one-month enactment would acceptable you backmost $1.2 million.
The main home's third-floor superior suite delivers awesome water views.
Liam Gifkins
Since 2016, the home's been connected and disconnected the market, and Blouin has reportedly faced a imaginable foreclosure and bankruptcy tribunal proceedings to support power of the compound.
She re-listed La Dune successful August with a caller brokerage steadfast and raised the inquire to $150 million.
If the squad astatine Nest Seekers gets anyplace adjacent what their lawsuit wants for the compound, it volition interruption an all-time grounds successful the Hamptons.
A surviving country successful the main residence.
Liam Gifkins
According to nationalist records analyzed by Jonathan Miller, president of the existent property appraisal and consulting institution Miller Samuel, lone 5 compounds person ever sold for much than $100 cardinal successful the Hamptons.
The all-time grounds is inactive held by the 2014 merchantability of 3 abstracted but contiguous tons spanning 16 acres located astatine 60-64 Further Lane successful East Hampton that traded for $137 million.
The 2 astir caller 9-figure deals, according to nationalist records, were some successful Water Mill, a hamlet besides successful the Town of Southampton astir 2 miles eastbound of La Dune.
The 42-acre Fordune property sold successful 2021 for a record-breaking $105 million.
CNBC
First came the mega-sale of a 42-acre, 20,000-square-foot oceanfront property known arsenic Fordune, located astatine 90 Jule Pond Drive. The erstwhile Ford household property was primitively listed for $175 cardinal successful 2017 and sat connected the marketplace for astir 4 years earlier selling for $105 cardinal successful 2021, a 40% discount but inactive an all-time grounds for single-lot properties successful the Hamptons.
In 2022, an adjacent bigger merchantability eclipsed that 1 successful the quiescent off-market acquisition of 70 Cobb Road, recorded astatine $118 million. That compound which sits connected a creek, not the ocean, was comprised of 4 contiguous tons spanning astir 21 acres. The merchantability included 2 homes that unneurotic delivered much than 32,000 quadrate feet of surviving space. The mega-deal remains the Hamptons' second-highest merchantability of each time.
The Atlantic water offers a stunning backdrop for a brace of mansions for merchantability connected Gin Lane successful Southampton.
Liam Gifkins
Here's a person look astatine the latest compound vying for a spot among the abbreviated database of summertime homes that person sold for implicit $100 million:
A sitting country successful La Dune's household home.
Liam Gifkins
The La Dune compound spans 4 acres with 21,000 quadrate feet of surviving abstraction crossed 2 homes, according to the listing.
Gravel thrust starring to the main location astatine 376 Gin Lane.
Liam Gifkins
The four-story main residence, located astatine 366 Gin Lane, is much than 11,000 quadrate feet.
The 2nd residence astatine the La Dune property includes its ain swimming pool.
Liam Gifkins
The three-story 2nd location astatine 376 Gin Lane, which proprietor Blouin refers to arsenic the "family home," is much than 9,600 quadrate feet.
One of the superior suites connected the 2nd level of the household home.
Liam Gifkins
The brace of mansions includes a full of 19 bedrooms and 16 baths.
Library successful the estate's 2nd residence
Liam Gifkins
The lowest level of the alleged household location includes a gym, steam room, bar, billiards country and location theater.
Home theatre.
Liam Gifkins
The household room successful the main residence is 1 of respective kitchens crossed the estate.
Liam Gifkins
There are respective kitchens connected the property including a ample unit room for catering events connected the archetypal level of the main house. There's besides a much humble household kitchen, 1 level supra it.
The main home's swimming excavation is flanked by 2 bars and achromatic collumns.
Liam Gifkins
Blouin told CNBC she's selling her Hamptons location successful portion due to the fact that she and her children walk astir of their clip successful Europe — not successful Southampton.
Deck and stairway starring to a 400 ft agelong of soil connected Southampton's exclusive beachfront.
Liam Gifkins
According to nationalist records, spot taxes crossed some tons that signifier the La Dune compound full astir $130,000 per year.
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