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A prominent Hamptons estate, known as La Dune, has been sold at auction for $88.5 million, a notable decline from its initial listing price of $150 million. The four-acre property in Southampton, New York, was auctioned by Concierge Auctions, with a starting bid of $66 million. The sale, which comprises two houses on the estate, saw one residence sold for $40.5 million and the other for $38.5 million, with the buyer premium bringing the total to $88.5 million.
La Dune, recognized for its appearance in Woody Allen’s film “Interiors,” had a tumultuous history on the real estate market. Initially listed in 2016, the property experienced several on-and-off-market cycles. In 2022, it was re-listed at $150 million before encountering financial challenges that led to Chapter 11 bankruptcy.
The estate, situated on Gin Lane and once owned by Louise Blouin, features two mansions boasting a total of 23 bedrooms, two pools, a sunken tennis court, a home theater, spa, sauna, and two gyms. With 400 feet of oceanfront and lush landscaping, La Dune was a coveted property despite its financial woes.
Louise Blouin, a Canadian art magazine publisher, purchased the estate in the 1990s for $13.5 million. Facing financial difficulties, including loans totaling $40 million on the property, Blouin filed for Chapter 11 bankruptcy last year to prevent foreclosure.
Despite a slowdown in Hamptons real estate sales in 2023 due to limited inventory, the high-end market maintained strength, with notable sales of properties exceeding $50 million. La Dune’s auction adds to Concierge Auctions’ track record, following the $141 million auction of an estate in the Los Angeles area in 2022.
The sale of La Dune is contingent on approval from the bankruptcy court, marking a significant chapter in the property’s storied real estate journey.