A Hamptons property that made headlines in June when it went on the market for $120 million — making it the most expensive listing for sale on the East End at the time — is now available for many millions less.
Known as “Dune Cottage,” the East Hampton offering just received a $25 million price cut after seven weeks on the market, according to a listing update on listing portal Out East.
That brings the current asking price to a discounted, but still high, $95 million. That now makes it the second most expensive listing for sale in the Hamptons, Out East also shows, behind a two-home complex in Water Mill that hit the market for $99.5 million in the spring, as The Post reported in April.
After 20 years in the Hamptons, Ann Tenenbaum, the owner of the now $95 million home, has been eager to unload the property — revealing in a Wall Street Journal story in June that she wanted to put her Hamptons days behind her. .
Tenenbaum, a venture capital investor and philanthropist, intended to part ways with the fortune after the death of her husband, private equity titan Thomas H. Lee, last year.
“It was very much his place,” she told the Journal. “I liked having my family and friends around. I just didn’t like the Hamptons.”
However, the property is quite prime.
Standing at 43 East Dune Lane, it features 225 feet of direct Atlantic Ocean frontage and is close to the prestigious Further Lane. The property comprises approximately 3.6 hectares.
The main house, which covers about 11,000 square feet, includes eight bedrooms. In addition, there is a separate guest cottage with two bedrooms, a swimming pool and a tennis court.
The couple bought the estate from socialite Lee Radziwill — sister of Jacqueline Kennedy Onassis — for $16.2 million in 2001 and underwent two major renovations. First it was for major renovations after the purchase, then later after a devastating fire in 2013.
“Nobody got hurt, that was the most important thing,” Tenenbaum told the Journal.
A unique feature of the home is a tunnel connecting the heated pool to the lower level, designed to keep beach sand out of the clean living spaces. Tenenbaum was inspired by a similar design she had seen in Positano, Italy.
Despite all the benefits of custom design, Tenenbaum never felt at home in the east.
“I’m done with the Hamptons,” she told the Journal. “Now it’s my time to go to Santa Fe, Malibu, or Greece—I don’t know—maybe I want to be a gypsy for a bit.”
She cherishes the memories of hosting her children’s friends as their home was alive and bustling with activity all summer long.
“We had an open-door policy,” she recalls. “It was fun, but it was a lot of work until the end,” even with assistance.
Amenities include a fully equipped lower level with an exam room, a gym and a private grotto that leads to the pool, according to the listing.
The home is co-listed by Adam Modlin and Christopher Covert of The Modlin Group, along with Terry Cohen of Hedgerow Exclusives. They did not respond to The Post’s requests for comment.
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Image Source : nypost.com