A beachfront estate in Southampton, listed at $150million, is the most expensive home for sale in the Hamptons – and is struggling to get out of the market.
The complex, called La Dune, is likely to be used as a summer residence and taps into a small pool of buyers, likely billionaires, who could afford to foot the bill. Even in the Hamptons, sales over $100 million are rare.
La Dune, named after the sand dune behind which it sits, is approximately four acres, on two adjoining lots with two houses, two swimming pools and a tennis court below.
It hasn’t been easy to find a buyer for the sprawling complex, which includes a classic Hamptons-style clapboard main residence, originally built over 100 years ago, and a second home on the adjoining lot, built in the early 2000s.
The pair of beachfront homes with two swimming pools and a tennis court in the foreground of the photo is the La Dune estate.
“This house is the furthest thing from being destroyed, but if the house wasn’t there, this land alone, each one of them would be worth $50 million,” listing agent Shawn Elliott told CNBC. by NestSeekers.
And Elliott promises The Dune award isn’t just designed to grab headlines.
“I think that’s, 100%, a very realistic price to attract buyers to this market,” said Elliott, who co-lists the home with Geoff Gifkins.
Aerial view of La Dune estate from the ocean.
The estate sits on over 400 feet of super-prime beachfront along Gin Lane, sometimes referred to as “Billionaire’s 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.”
In 2016, La Dune owner, art magazine publisher and collector Louise Blouin put the estate on the market with Sotheby’s International at an asking price of $140 million. At the time, there were no takers.
Over the years, the residence has been referenced for summer rental. This year, a month’s stay would cost you $1.2 million.
The master suite on the third floor of the main house offers stunning ocean views.
Since 2016, the home has been on and off the market, and Blouin reportedly faces possible foreclosure and bankruptcy proceedings to retain control of the complex.
She re-listed La Dune in August with a new brokerage firm and raised the request to $150 million.
If the Nest Seekers team comes close to what their client wants for the resort, they’ll break an all-time high in the Hamptons.
A living room in the main residence.
According to public records analyzed by Jonathan Miller, president of real estate appraisal and advisory firm Miller Samuel, only five complexes have 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 transactions, according to public records, took place in Water Mill, a hamlet also in the town of Southampton about two miles east of The Dune.
The 42-acre Fordune estate was sold in 2021 for a record $105 million.
First there was the mega-sale of a 42-acre, 20,000-square-foot beachfront estate known as Fordune, located at 90 Jule Pond Drive. The former Ford family estate 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 an all-time high for single-lot properties in the Hamptons.
In 2022, an even bigger sale eclipsed this one in the low-key off-market purchase of 70 Cobb Road, recorded at $118 million. This resort which sits on a creek, not the ocean, was comprised of four contiguous lots covering approximately 21 acres. The sale included two homes that together offered over 32,000 square feet 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 look at the latest compound vying for a spot on the short list of summer homes that have sold for over $100 million:
A living room in the family home of La Dune.
The La Dune complex spans four acres with 21,000 square feet of living space spread over two homes, according to the listing.
Gravel driveway leading to the main house at 376 Gin Lane.
The four-story main residence, located at 366 Gin Lane, measures over 11,000 square feet.
The second residence of the Domaine de La Dune includes its own swimming pool.
The three-story second home at 376 Gin Lane, which owner Blouin calls the “family home,” is over 9,600 square feet.
One of the master suites on the second floor of the family home.
The pair of mansions comprises a total of 19 bedrooms and 16 bathrooms.
Library in the secondary residence of the estate
The lowest level of the so-called family house includes a gym, a hammam, a bar, a billiard room and a home cinema.
The family kitchen in the main residence is one of many kitchens on the estate.
There are several kitchens on the estate, 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.
The main house pool is flanked by two bars and white columns.
Blouin told CNBC she’s selling her Hamptons home partly because she and her children spend most of their time in Europe — not Southampton.
Deck and stairs leading to a 400ft stretch of sand on Southampton’s exclusive seafront.
According to public records, property taxes on the two lots that make up the La Dune complex total nearly $130,000 per year.