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Hamptons Mansion Sold at Auction for $88.5 Million
Hamptons Mansion Sold at Auction for $88.5 Million

An $150 million Hamptons mansion sold at auction for $88.5 million, after being marketed for $150 million before declaring bankruptcy. The property, La Dune, features 23 bedrooms, two pools, a tennis court, and more. Concierge Auctions conducted the auction in collaboration with Tim Davis of The Corcoran Group, Harald Grant of Sotheby's International Realty, and Cody Vichinsky, the president and founding partner of Bespoke Real Estate. The bankruptcy court must approve the sale before it can proceed.

The 4-acre home in Southampton was initially auctioned at $66 million, and eventually sold for $88.5 million, including the buyer premium. Concierge Auctions conducted the auction, and two houses on the property were sold for $40.5 million and $38.5 million, respectively.

The property was bought by Louise Blouin for $13.5 million in the 1990s, and she invested millions to expand the mansion in 2001. The estate owed $40 million in loans before declaring Chapter 11 bankruptcy in order to prevent foreclosure auction due to a dearth of inventory in the Hamptons real estate market.

Last year, the Hamptons real estate market saw a slowdown, but the upper end of the market saw high demand and prices. La Dune's sale at $88.5 million is one of the priciest houses ever sold at auction. The estate of La Dune last sold at auction in 2022, raising $141 million from the sale of an estate in the Los Angeles region.