A waterfront estate in Southampton, listed at $150 million, is the most expensive home for sale in the Hamptons — and is struggling to get off the market.
The complex, known as La Dune, is likely to be used as a summer home and is being sourced from a small group of buyers, billionaires who can afford to build. Even in the Hamptons, sales over $100-million are few and far between.
La Dune, named after the sand dune it sits behind, is about four acres with two adjoining lots with two houses, two swimming pools and a sunken tennis court.
Finding a buyer for the sprawling compound, which includes a classic Hamptons-style shingled main residence built over 100 years ago and a second home next door built in the early 2000s, will not be easy.
In the foreground of the photo is La Dune Estate, a pair of beachfront homes with two pools and a tennis court.
“This house is far from being demolished, but if the house wasn’t here, this lot alone, would be worth $50 million each,” listing agent Shawn Elliott of Nest Seekers told CNBC.
Elliott assures La Dune’s price is not just designed to garner headlines.
“This is 100%, I believe, the most realistic price point to attract buyers in this market,” said Elliott, who co-listed with Jeff Gifkins.
Aerial view of La Dune Gardens from over the sea.
The estate is located on Gin Lane with over 400 feet of super-prime beach front, sometimes referred to as “Billionaire’s Beach”. It is one of the most exclusive strips of white sand in the world.
“We always know in real estate it’s location, location, location, and that’s not a cliché,” Elliott said. “You really are nothing but riches at 50 yards.”
In 2016, La Dune owner, art magazine publisher and collector Louis Blouin put the estate on the market with Sotheby’s International for an asking price of $140 million. Back then, there were no takers.
For years, the residence has been listed as a summer rental. A one-month stay this year will set you back $1.2 million.
The third floor master suite of the main house offers stunning ocean views.
Since 2016, the home has been on and off the market, and Blouin reportedly faces a potential foreclosure and bankruptcy court proceedings to retain control of the complex.
He relisted La Dune in August with a new brokerage and raised the asking to $150 million.
If the team at Nest Seekers gets anywhere close to wanting their client mix, it will break the all-time record in the Hamptons.
A living room in the main apartment.
Only five compounds in the Hamptons have ever sold for more than $100 million, according to public records analyzed by Jonathan Miller, president of real estate appraisal and consulting firm Miller Samuel.
The all-time record is still held by the 2014 sale of three separate but contiguous 16-acre lots located at 60-64 Further Lane in East Hampton, which traded for $137 million.
The two most recent 9-figure deals, according to public records, were both at Water Mill, a hamlet in Southampton Township about two miles east of La Dune.
The 42-acre Fortune Estate sold in 2021 for a record $105 million.
First came the mega sale of a 42-acre, 20,000 sq. ft. oceanfront estate called Fortuna. 90 joule bond drive. The former Ford family estate was first listed in 2017 for $175 million and sat on the market for nearly four years before selling in 2021 for $105 million, a 40% discount but the all-time record for a single-lot property in the Hamptons.
In 2022, an even bigger sale beat the quiet off-market purchase of 70 Cope Road, which was recorded at $118 million. Sitting on a creek, not the sea, the complex consisted of four contiguous lots covering about 21 acres. The sale includes two homes that offer more than 32,000 square feet of living space. The mega-deal is the Hamptons’ second-highest sale of all time.
The Atlantic Ocean provides a stunning backdrop to a pair of townhouses for sale on Gin Lane, Southampton.
Here’s a closer look at the latest mix vying for a spot on the short list of summer homes sold for more than $100 million:
A sitting room in La Dune’s family home.
The La Dune campus is home to two 21,000 square foot residences on four acres.
Gravel drive leading to main house at 376 Ginn Lane.
The four-story main residence, located at 366 Ginn Lane, is over 11,000 square feet.
The second residence in La Dune Estate has its own private swimming pool.
The three-story second home at 376 Ginn Lane, which owner Blouin refers to as the “family home,” has more than 9,600 square feet.
One of the master suites on the second floor of the family home.
The couple’s mansion has a total of 19 bedrooms and 16 bathrooms.
The library in the second apartment of the garden
The lowest level of the so-called family home includes a gym, steam room, bar, billiards room and home theater.
The family kitchen in the main residence is one of several kitchens throughout the estate.
The estate has several kitchens, including a large staff kitchen on the first floor of the main house for catering events. There is also a very modest family kitchen, with a deck above it.
The main house’s swimming pool is flanked by two bars and white columns.
Blouin told CNBC that she is selling her Hamptons home in part because she and her children spend most of their time in Europe — not in Southampton.
Deck and staircase leading to 400 feet of sand on Southampton’s exclusive beachfront.
According to public records, property taxes at the two locations that make up the La Dune compound are about $130,000 a year.