Iconic Hamptons Estate ‘La Dune’ Sells For $88.48M At Auction

SOUTHAMPTON, NY — History was made in Southampton Wednesday night as the iconic "La Dune" estate sold for a record-breaking $88.48 million, the most valuable property ever auctioned live at Sotheby's.

Seven bidders vied to own the magnificent estate on Gin Lane at the live Sotheby's Concierge Auction held in the New York saleroom.

Last month, it was announced that the estate, once listed at $150 million, would be sold at auction with no reserve.

Once the most expensive listing ever in Southampton and encompassing two residences on over four acres, 366 and 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.

The 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," Sotheby's said. With an audience of nearly 100 in attendance, bidders competed in the room, on the telephone via a team of specialists, and online.

Both "La Dune" properties were sold to a single bidder; the event featured global participation from the seven "property connoisseurs" from North America and the Caribbean, including New York and Connecticut, Sotheby's said, adding that the sale price represented a 121.2 percent increase from the winning bidder’s opening bid.

"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.'"

According to Sotheby's, renowned as the epitome of seaside luxury in the Hamptons, "La Dune" is a masterpiece designed by renowned architect Stanford White, with unparalleled beach access and breathtaking ocean views. The main house offers more than 11,000 square feet including 10 bedrooms, eight bathrooms, and staff quarters. The second residence, a separate structure built in 2001 by the esteemed architect and French designer Francois Cartroux, was carefully created to mirror the style and proportions of the main house. Both residences share similar design elements and are equipped with gyms and saunas, while the second residence adds the home theater and billiards room to its list of amenities.

"I am pleased to have partnered with Sotheby’s Concierge Auctions on yesterday’s sale of the iconic ‘La Dune’ residence," Harald Grant said. "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."

Sotheby’s Concierge Auctions is the largest luxury real estate marketplace. The firm already holds the world record for the most expensive residence ever sold at auction and the highest sale for any U.S. property listed in all of 2022, a sprawling California estate known as "The One," which sold at auction for $141 million.

As part of Sotheby’s Concierge Auctions' Key for Key® giving program in partnership with Giveback Homes, the closings will result in funding towards building new homes for families in need.

Famously, the home was used for the filming of many scenes in Woody Allen’s 1978 film "Interiors."

"Located on prestigious Gin Lane, this estate is the essence of old Southampton Village in her Camelot years. The original home has been renovated beautifully, sitting majestically on top of a dune with surrounding ocean views in true Southampton style," Grant said.

Davis added: "The ocean views and setting are sublime, embracing the best of beachfront living experienced only in the finest locales around the world."

Originally constructed in 1892, the classic shingle-sided main residence commands a majestic presence over the rosa rugosa dunes that cascade down to the expansive white sandy beach, offering more than 400 feet of bulkhead beachfront, Surrounded by stately hedges, "the entire estate projects pure tranquility," Concierge Auctions said.