La Dune Sells at Auction for $88.48 Million

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.