Southampton estate La Dune auctioned off for $79 million
La Dune, a Southampton estate once listed at $150 million, fetched $88.48 million at auction. Credit: Rich Taverna
La Dune, the oceanfront estate that was up for auction in January, has been sold for $79 million. The sale marks the "most valuable property ever auctioned live at Sotheby’s," according to a statement released by the auction house.
The "all in" price, including a 12% buyer's premium for the brokers and auctioneers involved in the sale, comes to $88.48 million.
The Southampton estate was previously listed for $150 million. The annual property taxes are $212,694, and includes two residences.
The homes are located on Gin Lane, coming to a total of 22,000 square feet, and were purchased together by a single bidder. The auction garnered participation from seven bidders, hailing from places including New York, Connecticut and the Caribbean, according to the auction house.
The estate was offered by Concierge Auctions in partnership with Harald Grant of Sotheby's International Realty, Tim Davis of The Corcoran Group and Cody Vichinsky, president and founding partner of Bespoke Real Estate.
The event was "exciting," said Grant. In his career spanning 37 years, this was his first auction — and hopefully not his last, he said. "It’s a wonderful way to promote properties," he added.
"There were multiple bids coming from three different sources: Telephone with people calling in, email and a couple of people who were physically there at the auction," said Grant. "It was phenomenal."
The main house of La Dune features 10 bedrooms and 10½ bathrooms, while the guest house contains nine bedrooms, eight full bathrooms and two half-bathrooms.
Built in 1888, the historic main house was first owned by Robert Morrison Olyphant, who served as president of the Delaware and Hudson Railroad during that time, Harald Grant told Newsday. The guesthouse was built in 2000 to complement the main structure. The estate sits on four acres.
More notable features include a home theater, 400 feet of beach access, a tennis court, a six-car garage in the guesthouse and 11 wood-burning fireplaces in the main house. The property is served by the Southampton Union Free School District.
Rachel Weiss joined Newsday in 2016. As a real estate/living multimedia reporter, Rachel writes feature stories and contributes to and appears in on-camera video packages. She was the lead reporter on Newsday’s LI Acts of Kindness series.
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