Iconic Hamptons Estate ‘La Dune’ Fetches Record-Breaking $88.48 Million at Auction via Sotheby’s Concierge Auctions
BREAKING NEWS IN HAMPTONS LUXURY REAL ESTATE!! Iconic Hamptons Estate ‘La Dune’ Fetches Record-Breaking $88.48 Million at Auction via Sotheby’s Concierge Auctions. Seven bidders vied to own the exclusive Gin Lane address in Southampton during a groundbreaking live auction at Sotheby’s New York. KDHamptons attended the live auction and shares all of the exciting details, below…
On Wednesday, January 24th, in Sotheby’s New York saleroom, ‘La Dune’, highly revered as one of the Hamptons’ most iconic estates, achieved a record-breaking $88.48 million – representing the most valuable property ever auctioned live at Sotheby’s. Once the most expensive listing ever in the Southampton area of Long Island, New York and encompassing two remarkable residences on over four acres, 366 & 376 Gin Lane was offered individually and collectively via Sotheby’s 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.
La Dune has been my absolute favorite estate in the Hamptons for decades. Regarded by many as the finest oceanfront compound on the East End, this iconic property with links to architect Stanford White offers two extraordinary residences on almost four acres, with over 405ft. of bulkhead beach front, gorgeous hedged lawns, two custom Gunite pools, and a sunken all-weather tennis court.
The event was conducted by Sotheby’s Concierge Auctions’ head auctioneer, Frank Trunzo. The monumental La Dune estate was auctioned live alongside art and luxury at Sotheby’s as part of ‘Visions of America’, a week-long auction and event series showcasing the heights of American craftsmanship in the finest art and objects, and streamed live from its esteemed New York saleroom on conciergeauctions.com and sothebys.com.
“I am pleased to have partnered with Sotheby’s Concierge Auctions on yesterday’s sale of the iconic ‘La Dune’ residence,” stated Harald Grant (below). “This extraordinary oceanfront compound represents one of the finest offerings in the Hamptons; it is no surprise that this auction resulted in a record sale.”
Enter through the black wooden security gates to a wide long gravel drive lined with giant boxwoods. The main four-story residence rises majestically from its front parking court. Constructed in the early 1900s, the 22,000 sq. ft. classic shingle-sided presides over rosa rugosa dunes that slope down to the wide sandy beach. The main house offers more than 11,000 square feet including 10 bedrooms, eight bathrooms, and staff quarters.
“The remarkable final sale price for ‘La Dune’ reflects its stunning design, exclusive address, and historic pedigree,” said Chad Roffers, 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’.”
The second, wholly separate residence (below), was built in 2001 by the esteemed architect and French designer Francois Cartroux to mirror the design and proportions of the main house. Both homes are designed similarly, from dark polished wood floors, to white interiors with detailed moldings (original in the main house), bead boards, French doors, transom windows, and coffered ceilings. Both homes offer gyms and saunas. In addition, the second residence offers a home theater and billiards room.
Both properties sold to a single bidder
Most valuable property ever auctioned live at Sotheby’s
Global participation from seven property connoisseurs from North America and the Caribbean, including New York and Connecticut
Sale price represents a 121.2% increase from the winning bidder’s opening bid.