An oceanfront property in Southampton, listed at $150 million, stands because the priciest dwelling on the market within the Hamptons — and is struggling to maneuver off the market.
The compound, known as La Dune, is probably going for use as a summer time dwelling and attracts from a tiny pool of patrons, in all probability billionaires, who might afford to foot the invoice. Even within the Hamptons, $100-million-plus gross sales are few and much between.
La Dune, named after the sandy dune it sits behind, spans about 4 acres throughout two adjoining heaps with two houses, two swimming swimming pools and a sunken tennis courtroom.
It hasn’t been straightforward to discover a purchaser for the sprawling compound, which features a basic Hamptons-style shingled foremost residence, initially constructed greater than 100 years in the past, and a second dwelling on the adjoining lot, constructed within the early 2000s.
The pair of beachfront houses with two swimming pools and a tennis courtroom within the foreground of the photograph are the La Dune property.
“This home is the furthest factor from a tear-down, but when the home wasn’t right here, this lot alone, every certainly one of them can be price $50 million,” itemizing agent Shawn Elliott of Nest Seekers advised CNBC.
And Elliott guarantees La Dune’s worth is not simply designed to seize headlines.
“I imagine that is, 100%, a really lifelike worth level to draw patrons on this market,” mentioned Elliott, who co-lists the house with Geoff Gifkins.
Aerial view of the La Dune property from over the ocean.
The property is located on 400-plus ft of super-prime beachfront alongside Gin Lane, generally known as “billionaire’s seashore.” It is one of the unique strips of white sand on this planet.
“In actual property we all the time know it is location, location, location; that is not a cliche,” Elliott mentioned. “You might be really on the 50-yard line of nothing however wealth.”
Again in 2016 La Dune’s proprietor, artwork journal writer and collector Louise Blouin, put the property available on the market with Sotheby’s Worldwide at an asking worth of $140 million. On the time, there have been no takers.
Through the years, the residence has been listed as a summer time rental. This yr a one-month keep would set you again $1.2 million.
The primary dwelling’s third-floor major suite delivers spectacular ocean views.
Since 2016, the house’s been on and off the market, and Blouin has reportedly confronted a possible foreclosures and chapter courtroom proceedings to keep up management of the compound.
She relisted La Dune in August with a brand new brokerage agency and raised the ask to $150 million.
If the group at Nest Seekers will get anyplace close to what their shopper desires for the compound, it is going to break an all-time report within the Hamptons.
A lounge in the primary residence.
In line with public data analyzed by Jonathan Miller, president of the actual property appraisal and consulting firm Miller Samuel, solely 5 compounds have ever bought for greater than $100 million within the Hamptons.
The all-time report remains to be held by the 2014 sale of three separate however contiguous heaps spanning 16 acres positioned at 60-64 Additional Lane in East Hampton that traded for $137 million.
The 2 most up-to-date nine-figure offers, in line with public data, have been each in Water Mill, a hamlet additionally within the City of Southampton about two miles east of La Dune.
The 42-acre Fordune property bought in 2021 for a record-breaking $105 million.
First got here the mega-sale of a 42-acre, 20,000-square-foot oceanfront property referred to as Fordune, positioned at 90 Jule Pond Drive. The previous Ford household property was initially listed for $175 million in 2017 and sat available on the market for nearly 4 years earlier than promoting for $105 million in 2021, a 40% low cost however nonetheless an all-time report for single-lot properties within the Hamptons.
In 2022, a fair larger sale eclipsed that one within the quiet off-market buy of 70 Cobb Highway, recorded at $118 million. That compound, which sits on a creek quite than the ocean, was composed of 4 contiguous heaps spanning about 21 acres. The sale included two houses that collectively delivered greater than 32,000 sq. ft of dwelling area. The mega-deal stays the Hamptons’ second-highest sale of all time.
The Atlantic Ocean gives a shocking backdrop for a pair of mansions on the market on Gin Lane in Southampton.
This is a better take a look at the newest compound vying for a spot among the many brief checklist of summer time houses which have bought for over $100 million:
A sitting room in La Dune’s household dwelling.
The La Dune compound spans 4 acres with 21,000 sq. ft of dwelling area throughout two houses, in line with the itemizing.
Gravel drive resulting in the primary home at 376 Gin Lane.
The four-story foremost residence, positioned at 366 Gin Lane, is greater than 11,000 sq. ft.
The second residence on the La Dune property contains its personal swimming pool.
The three-story second dwelling at 376 Gin Lane, which proprietor Blouin refers to because the “household dwelling,” is greater than 9,600 sq. ft.
One of many major suites on the second ground of the household dwelling.
The pair of mansions features a complete of 19 bedrooms and 16 baths.
Library within the property’s second residence.
The bottom degree of the so-called household dwelling features a gymnasium, steam room, bar, billiards room and residential theater.
House theater within the second residence.
The household kitchen in the primary residence is certainly one of a number of kitchens throughout the property.
There are a number of kitchens on the property together with a big employees kitchen for catering occasions on the primary ground of the primary home. There’s additionally a extra modest household kitchen, one ground above it.
The primary dwelling’s swimming pool is flanked by two bars and white columns.
Blouin advised CNBC she’s promoting her Hamptons dwelling partially as a result of she and her kids spend most of their time in Europe — not in Southampton.
Deck and stairway resulting in a 400-foot stretch of sand on Southampton’s unique beachfront.
In line with public data, property taxes throughout each heaps that type the La Dune compound complete virtually $130,000 per yr.