An oceanfront property in Southampton, listed at $150 million, stands as the most expensive home for sale in the Hamptons — and is struggling to move off the market.
The complex, called La Dune, is likely to be used as a summer home and draws from a small pool of buyers, likely billionaires, who can afford to foot the bill. Even in the Hamptons, $100 million-plus sales are few and far between.
La Dune, named for the sand dune it sits behind, spans approximately four acres, across two adjoining lots with two homes, two swimming pools and a sunken tennis court.
Finding a buyer for the sprawling property, which includes a classic Hamptons-style main residence originally built more than 100 years ago, and a second home on the adjacent lot, built in the early 2000s, has not been easy. the number.
The pair of beachfront houses with two pools and a tennis court in the foreground of the photo is the La Dune property.
“This house is the farthest from a demolition, but if the house wasn’t here, this lot alone, every single one of them would be worth $50 million,” listing agent Shawn Elliott of Nest Seekers told CNBC.
And Elliott promises La Dune’s prize isn’t just designed to grab headlines.
“I think this is, 100%, a very realistic price point to attract buyers in this marketplace,” said Elliott, who is listing the home with Geoff Gifkins.
Aerial view of La Dune property from above the sea.
The property sits on 400-plus feet of super-prime beachfront along Gin Lane, sometimes referred to as “Billionaire Beach.” It is one of the most exclusive strips of white sand in the world.
“In real estate, we always know it’s location, location, location, it’s not a cliché,” Elliot said. “You really are 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 property on the market with Sotheby’s International at an asking price of $140 million. At that time there were no takers.
Over the years, the home has been listed as a summer rental. This year, a one-month stay will set you back $1.2 million.
The main house’s primary suite on the third floor offers impressive sea views.
Since 2016, the home has been on and off the market, with Blouin reportedly facing a potential foreclosure and bankruptcy court case to maintain control of the property.
She relisted La Dune in August with a new brokerage and raised the asking price to $150 million.
If the team at Nest Seekers comes close to what their client wants for the facility, it will break a record in the Hamptons.
A living room in the main residence.
According to public records analyzed by Jonathan Miller, president of real estate appraisal and consulting firm Miller Samuel, only five compounds have ever sold for more than $100 million in the Hamptons.
The all-time record is still held by the 2014 sale of three separate but contiguous lots spanning 16 acres located at 60-64 Further Lane in East Hampton that traded for $137 million.
The last two 9-figure deals, according to public records, were both in Water Mill, a village also in the town of Southampton about two miles east of La Dune.
The 42-acre Fordune property was sold in 2021 for a record $105 million.
First came the mega sale of a 42-acre, 20,000-square-foot oceanfront property known as Fordune, located at 90 Jule Pond Drive. The former Ford family estate was originally listed for $175 million in 2017 and sat on the market for nearly four years before selling for $105 million in 2021, a 40% discount but still a record for single-family properties in the Hamptons.
In 2022, an even larger sale overshadowed the quiet off-market purchase of 70 Cobb Road, listed at $118 million. The area, located on a stream, not the ocean, consisted of four contiguous lots spanning approximately 21 acres. The sale included two homes that together delivered more than 32,000 square meters of living space. The mega-deal remains the Hamptons’ second-highest sale of all time.
The Atlantic Ocean provides a stunning backdrop for a pair of mansions for sale on Gin Lane in Southampton.
Here’s a closer look at the latest facility vying for a spot among the short list of vacation homes that have sold for over $100 million:
A living room in La Dune’s family home.
The La Dune complex spans four acres with 21,000 square feet of living space across two homes, according to the listing.
Gravel drive leading to main house at 376 Gin Lane.
The four-story main residence, located at 366 Gin Lane, is more than 11,000 square feet.
The second home on the La Dune property includes a private swimming pool.
The three-story second home at 376 Gin Lane, which owner Blouin refers to as the “family home,” is more than 9,600 square feet.
One of the master suites on the second floor of the family home.
The pair of mansions includes a total of 19 bedrooms and 16 bathrooms.
Library in the estate’s second residence
The lowest level of the so-called family residence includes a gym, steam room, bar, billiards room and home cinema.
The family kitchen in the main house is one of several kitchens across the property.
There are several kitchens on the property including a large staff kitchen for catering events on the first floor of the main house. There is also a more modest family kitchen, one floor above that.
The main home’s swimming pool is flanked by two posts and white columns.
Blouin told CNBC that she is selling her home in the Hamptons in part because she and her children spend most of their time in Europe — not in Southampton.
Deck and stairs leading to a 400ft stretch of sand on Southampton’s exclusive beach.
According to public records, property taxes on both lots that make up the La Dune compound total nearly $130,000 per year.