La Dune Sells at Auction for $88.48 Million - 27 East

Real Estate News

Real Estate News / 2228641

La Dune Sells at Auction for $88.48 Million

icon 1 Photo
La Dune sold for $88.48 million at auction. SOTHEBY'S CONCIERGE AUCTIONS/GAVIN ZEIGLER

La Dune sold for $88.48 million at auction. SOTHEBY'S CONCIERGE AUCTIONS/GAVIN ZEIGLER

authorStaff Writer on Jan 29, 2024

La Dune, an oceanfront estate in Southampton Village at 366 and 376 Gin Lane, sold at auction at Sotheby’s in Manhattan on Wednesday, January 24, for $88.48 million, inclusive of a buyer’s premium.

With two residences on four acres, La Dune set the record for the most valuable property ever auctioned live at Sotheby’s. Sotheby’s Concierge Auctions conducted the auction in partnership with Harald Grant of Sotheby’s International Realty, Tim Davis of The Corcoran Group, and Cody Vichinsky, the president and founding partner of Bespoke Real Estate.

“This extraordinary oceanfront compound represents one of the finest offerings in the Hamptons,” Grant said. “It is no surprise that this auction resulted in a record sale.”

According to Sotheby’s, there were seven bidders hailing from North America and the Caribbean, and the winning bid was 121.2 percent higher than the opening bid.

“The remarkable final sale price for ‘La Dune’ reflects its stunning design, exclusive address, and historic pedigree,” said Chad Roffers, the founder and CEO of Sotheby’s Concierge Auctions. “It’s a result that our team, as the world’s leading luxury property auctioneer, is best positioned to obtain. We deal in real market value, which is ultimately measured by what a group of qualified bidders are willing to pay for a unique, one-of-a-kind piece of real estate like ‘La Dune.’”

La Dune had previously been listed for sale for $150 million. The auction came amid bankruptcy for the owner, Louise Blouin, a Canadian magazine publisher and art collector.

La Dune has 400 feet of bulkheaded shoreline, two gunite pools, a sunken all-weather tennis court, courtyards, gardens, patios and decks. The shingle-sided main residence, constructed in 1892 and said to have “links” to architect Standord White, is four stories with 11,000 square feet of living space updated to contemporary standards. It was featured prominently in Woody Allen’s 1978 film “Interiors.” The second residence, by French architect and designer François Catroux, was built in 2001.

You May Also Like:

Waterview Water Mill Shingle-Style Homes Sells for $11.38 Million

A Water Mill home with a view of Burnett Creek and a dock for access ... 17 Apr 2024 by Staff Writer

Sagaponack New Construction Designed by McDonough & Conroy Sells for $6 Million

A new 8,000-square-foot home in Sagaponack has sold for $6 million preconstruction. On 3.13 acres ... 9 Apr 2024 by Staff Writer

New Book Shows Long Island’s Past With Glimpses of Future

“Making Long Island: A History of Growth and the American Dream,” by Lawrence R. Samuel ... 5 Apr 2024 by Joseph Finora

Good Things Come in Small Packages

While large houses offer more space to spread out in, a new home in East ... 3 Apr 2024 by Brendan J. O’Reilly

Culloden Point Waterfront Home Sells for $12.5 Million

On Montauk’s Culloden Point and fronting Fort Pond Bay, the home at 8 Captain Balfour ... by Staff Writer

Sands Motel in Montauk Sells to Hospitality Group

Montauk’s Sands Motel at 71 South Emerson Avenue has sold to a prominent hospitality group, ... 29 Mar 2024 by Staff Writer

L’Hommedieu Descendants Tour House He Designed in East Hampton

The 1892 Brooklyn Daily Eagle obituary for architect James H. L’Hommedieu referred to him as ... 26 Mar 2024 by Brendan J. O’Reilly

Old Montauk Highway Estate Once Seeking $55 Million Sells for $18.5 Million

A Montauk estate spanning 35 acres with 485 feet of private beachfront has sold for ... by Staff Writer

Coopers Farm Road Home Sells for $4.15 Million

A 5,600-square-foot shingle-style home in Southampton Village built in 1989 recently sold for $4.15 million. ... by Staff Writer

National Association of Realtors Settlement Will Reverberate Throughout Real Estate Industry

New rules — and a monster settlement — could start saving homebuyers and sellers thousands ... 19 Mar 2024 by Joseph Finora