November 30, 2022

Raven Tribune

Complete News World

Inside a Hamptons summer home for sale for $150 million

Inside a Hamptons summer home for sale for $150 million

An oceanfront property in Southampton, listed at $150 million, stands as the most expensive home for sale in the Hamptons – and is struggling to get off the market.

The complex, called La Dune, is likely to be used as a summer home and attract a small group of buyers, possibly billionaires, who can foot the bill. Even in the Hamptons, sales of over $100 million are few and far between.

La Dune, named after the dunes behind it, spans about four acres, across two adjacent lots with two homes, two swimming pools, and a sunken tennis court.

It wasn’t easy to find a buyer for the sprawling complex, which includes an interlocking Hamptons-style main residence, originally built over 100 years ago, and a second home on an adjacent plot, built in the early 2000s.

A pair of beachfront homes with two swimming pools and a tennis court in the foreground of the photo are the property of La Dune.

Liam Jeffkins

“This house is far from demolished, but if the house didn’t exist, each house would be worth $50 million,” registry agent Sean Elliott of Nest Seekers told CNBC.

And Elliott promises that La Dune’s price tag isn’t just designed to grab the headlines.

“I think this is, 100%, a very realistic price point to attract buyers in this market,” said Elliott, who co-listed the home with Jeff Jeffkins.

Aerial view of La Dion estate from above the ocean.

Liam Jeffkins

The property is located on more than 400 feet of prime beachfront along Jin Lin, sometimes referred to as “Billionaire Beach.” It is one of the most distinctive white sand slides in the world.

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“In real estate, we always know where it’s located, its location, its location, and it’s not cliched,” Elliott said. “You’re really on the 50-yard line for nothing but wealth.”

In 2016, La Dune owner, art magazine publisher and collector Louise Bleuen, put the property on the market with Sotheby’s International for a asking price of $140 million. At the time, there were no takers.

Over the years, the condo has been listed as a summer rental. This year, a one-month stay could cost you $1.2 million.

The master suite on the third floor of the main house offers fantastic ocean views.

Liam Jeffkins

Since 2016, the home has been on and off the market, and Bloen has reportedly faced potential actions in foreclosure and bankruptcy court to maintain control of the complex.

It relisted La Dune in August with a new brokerage firm and raised the order to $150 million.

If the team at Nest Seekers gets anywhere near what their customers want for the pool, it will break an all-time record for the Hamptons.

Living room in the main residence.

Liam Jeffkins

According to public records analyzed by Jonathan Miller, president of Miller Samuel Real Estate Appraisal and Consulting, only five complexes sold for more than $100 million in the Hamptons.

All-time record still held 2014 sale of three separate but contiguous plots spanning 16 acres located at 60-64 Additional Streets in East Hampton which traded for $137 million.

The two most recent nine-figure deals, according to public records, were at Water Mill, also a small village in the town of Southampton two miles east of La Dion.

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The 42-acre Fordune property was sold in 2021 for $105 million.

CNBC

First came the massive sale of a 42-acre, 20,000-square-foot oceanfront property known as Fordune, located in 90 Joule Bond Drive. The former Ford family estate was originally listed for $175 million in 2017 and remained on the market for nearly four years before being sold for $105 million in 2021, a 40% discount but still an all-time record for one-piece properties in the Hamptons.

In 2022, an even bigger sale overshadowed that quiet off-market deal of 70 Cobb Road, which posted $118 million. Perched on a stream, not an ocean, this boat consisted of four contiguous lots spanning about 21 acres. The sale included two homes that together provided more than 32,000 square feet of living space. The mega deal remains the Hamptons’ second highest selling ever.

The Atlantic provides a stunning backdrop to a pair of mansions for sale in Jane Lane in Southampton.

Liam Jeffkins

Here’s a closer look at the latest complex vying for a place among the shortlist of summer homes that sold for more than $100 million:

A living room in the home of the La Dion family.

Liam Jeffkins

The La Dune complex spans four acres with 21,000 square feet of living space across two homes, according to the listing.

A gravel drive drives to the main house at 376 Jin Lane.

Liam Jeffkins

The four-story main residence, located at 366 Jin Lane, is over 11,000 square feet.

The second, three-story home at 376 Jin Lane, which owner Ploen refers to as “the family home,” is over 9,600 square feet.

One of the basic suites on the second floor of the family home.

Liam Jeffkins

The couple includes a total of 19 bedrooms and 16 bathrooms.

Library in the second estate residence

Liam Jeffkins

The lowest level of the so-called family home includes a gym, steam room, bar, billiards room and home theater.

home theater.

Liam Jeffkins

The family kitchen in the main residence is one of several kitchens across the property.

Liam Jeffkins

There are several kitchens on the property including a large staff kitchen for catering for events on the first floor of the main house. There is also a more modest family kitchen, one floor above it.

The main house’s pool is surrounded by two white bars and columns.

Liam Jeffkins

Bloen told CNBC that she is selling her Hamptons home in part because she and her children spend most of their time in Europe – not Southampton.

A deck and stairs lead to a 400-foot stretch of sand on exclusive Southampton Beach.

Liam Jeffkins

According to public records, property taxes across both lots that make up the La Dune complex total approximately $130,000 per year.