What does it take to sell a multi-million dollar Hamptons home? In the case of this $150 million listing, it seems the time has come.
The sprawling Southampton compound has been in and out of the market since 2016 and, if it trades at its cool asking price, it will shatter Tony East End’s all-time record.
21,000 sq ft, 4.2 acre beachfront estate known as La Dune It boasts sunken tennis courts, two swimming pools and two homes with 19 bedrooms and over 16 bathrooms.
“This house is far from demolished, but if the house wasn’t here, this lot alone would be worth $50 million each.” Jeff Gifkins — told CNBC of the sprawling property relisted in August at current ticket prices.
Beyond spreads that have struggled to sell for years, the outlet added that the pool of potential buyers is limited and nine-figure sales are rare in the Hamptons. We’re at the 50-yard line,” Elliott later added.
And as for the high asking price, Elliott said he didn’t turn his attention to CNBC.
“I think this is a very realistic price that will 100% attract buyers in this market,” he added.
The home’s owner, art magazine publisher and collector Louise Bruin, first listed the property for $140 million to another broker in 2016.
There were no occupants at the time, but the property has been used as a summer rental for years.
Yet, in the meantime, Blouin had another problem.
CNBC said she could face foreclosure and bankruptcy proceedings to maintain control of the property. In August, she put the high-priced item back on the market.
The Hamptons’ most expensive selling current trophy holder is $137 million. It was set in 2014 and was the sale of three consecutive lots spread across 16 acres in East Hamptons, according to Jonathan Miller, president of real estate appraiser Miller-Samuel. Only five homes have sold, he added, CNBC.