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The Hamptons may be a playground for the rich and famous, but one homeowner who knows a whole lot about toys is leaving the sandbox. Charles Lazarus, founder of retail giant Toys ‘R” Us, put his Quogue property on the market this week for $13.5 million.
Broker Marcia Altman with Brown Harris Stevens, who is listing the property, would not reveal who the owners are. However, Southampton Town records confirm that the property belongs to Mr. Lazarus.
Sitting on 4 acres, with 375 feet of waterfront overlooking Shinnecock Bay, the estate consists of a main house, a gatehouse, a croquet field, an oversized heated gunite pool and a boathouse.
Built in 1896, the original 6,500-square-foot, 3-story main house was hit by lightning and burned down, according to the listing. In 1900, the owners rebuilt the same home, which has 8 bedrooms and 6.5 baths. The gatehouse, which can be used as a guest house, was originally a windmill and stables.
“It’s a compound that should stay in a family for generations, because it’s so private,” said Ms. Altman.
Toys “R” Us was founded in 1948 and bought FAO Schwarz, the iconic toy store in New York City, in 2009. Incidentally, the latter toy retailer announced it will be closing its Fifth Avenue doors on July 15 due to high rent. It is in search of a new location in midtown Manhattan.
on Jul 10, 2015