Gallerist Adam Lindemann Lists His Montauk House For $29.5 Million - 27 East

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Gallerist Adam Lindemann Lists His Montauk House For $29.5 Million

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Kerry Delrose interior

Kerry Delrose interior

author on Oct 27, 2015

With his eyes set on the former Andy Warhol estate known as “Eothen,” art collector and gallerist Adam Lindemann is listing his Montauk home, just a few doors down, for $29.5 million.

Almost two weeks ago, news broke that Mr. Lindemann, who owns a gallery on Madison Avenue in New York City, was in contract to purchase the iconic Warhol property on Old Montauk Highway.

Much like Eothen, Mr. Lindemann’s six-bed, 8.5 bath home is also set near the ocean. Designed by British architect David Adjaye, the 5,000-square-foot home features a built-in platform bed, an attached two-car garage with a one-car lift, another detached two-car garage, a home theater and a wine cellar. Other unique features include the kitchen, which has three deep sinks and a poured-concrete island. A heated pool and Jacuzzi are located near an outdoor dining area.

Mr. Lindemann, who has owned the 6-acre estate since around 2004, made headlines after installing some colossal sculptures on his oceanfront land, including a 23-foot-tall yellow teddy bear under a desk lamp, a bronze sculpture by artist Urs Fischer, which remains. He also installed a controversial 15-foot-high vertical pink sculpture by artist Franz West. Many were offended by its phallic appearance and it was later removed.

The listing photos show other colorful outdoor sculptures as well as artwork that is displayed throughout the house.

Mr. Lindemann told the New York Post recently that he had known Mr. Warhol in the 1980s. “I’m very lucky to have this opportunity to live out this dream,” he told Page Six about his impending home purchase. “It’s a work of art.”

The former Warhol estate is owned by Millard “Mickey” Drexler, CEO of the clothing and accessories store J.Crew, who bought the 5.6-acre oceanfront property, which includes six cottages, for $27 million in 2007. The cottages are arranged in a slight semi-circle and were renovated by architect Thierry Despont after Mr. Drexler purchased them.

In June, he put it up for sale along with an adjoining 22-acre horse pasture for $85 million. While the two properties were packaged together, the option to buy them separately was available, and the billionaire art enthusiast is only interested in the oceanside compound. The final sale price for Eothen has not yet been made public.

Without Eothen, the pasture could fetch anywhere from $25 million to $35 million, although that price has yet to be determined.

Mr. Lindemann’s property is listed with Ed and James Petrie of Compass. Ed Petrie had helped broker the sale of Eothen while he was still at Sotheby’s International Realty, along with Paul Brennan of Douglas Elliman.

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