What does it take to sell a multimillion-dollar Hamptons home? In the case of this $150 million listing, it seems to be time.
A sprawling Southampton compound has been on and off the market since 2016 — and if it trades hands for its cool asking price, it would crush an all-time record for the tony East End.
The 21,000-square-foot, 4.2-acre oceanfront estate known as La Dune boasts a sunken tennis court, two swimming pools and two houses with a combined 19 bedrooms and more than 16 bathrooms — all set on two adjoining lots boasting more than 400 feet of bulkhead beachfront between them.
“This house is the furthest thing from a tear-down, but if the house wasn’t here, this lot alone, each one of them would be worth $50 million,” listing broker Shawn Elliott of Nest Seekers — who holds the listing with Geoff Gifkins — told CNBC of the expansive property, which re-listed in August for its current ticket price.
The outlet added that, beyond the spread struggling to sell over the years, the potential pool of buyers is limited — and nine-figure sales in the Hamptons are rare. “You are truly on the 50-yard line of nothing but wealth,” Elliott later added, as the property stands on ultra-exclusive Gin Lane.
And as for the big asking price, Elliott told CNBC it’s not for attention.
“I believe this is, 100%, a very realistic price point to attract buyers in this marketplace,” he added.
The home’s owner, art magazine publisher and collector Louise Blouin first listed the estate for $140 million with a different brokerage in 2016.
Back then, there were no takers — but the property over the years has been available as a summer rental. This year, staying there for one month would run $1.2 million, CNBC adds.
Still, over the course of those years, Blouin has had other issues.
CNBC notes she faced a potential foreclosure and bankruptcy court proceedings to keep control of the estate. In August, she brought the offering back to market for this higher sum.
The current trophy-holder for the priciest sale in the Hamptons is $137 million. That was set in 2014 and was a sale for three contiguous lots running across 16 acres in East Hampton. Only five Hamptons homes in history have ever gone for more than $100 million, according to Jonathan Miller, president of real estate appraisal company Miller Samuel, CNBC added.
Ex-Brit turned Manhattan resident since 2008.