Iconic Hamptons Estate 'La Dune' Sells for $88.48M at Auction

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

Seven bidders vied for the magnificent Gin Lane estate in the Sotheby's Concierge live auction held at the New York saleroom.

Last month, it was announced that the property, once listed at $150 million, would be sold at auction without reserve.

Once the most expensive listing in Southampton and comprising two residences on over four acres, 366 and 376 Gin Lane were offered individually and collectively through Sotheby's Concierge Auctions in association with Harald Grant of Sotheby's International Realty, Tim Davis of The Corcoran Group , 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 weekly series of auctions and events showcasing “the heights of American craftsmanship in the finest art and objects, and broadcast live by the distinguished New York. saleroom,” Sotheby's said. With an audience of nearly 100 attendees, bidders competed in the room, on the phone through a panel of experts and online.

Both “La Dune” properties were sold to a single bidder. The event featured global participation from seven “real estate 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 winner'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 real estate auctioneer, is best placed to achieve. We deal in true market value, which is ultimately measured by what a panel of qualified bidders are willing to pay for a unique , a real estate like “La Dune”.

According to Sotheby's, known as the epitome of beachfront luxury in the Hamptons, “La Dune” is a masterpiece designed by renowned architect Stanford White, with unparalleled beach access and stunning 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 French architect and designer Francois Cartroux, was carefully created to reflect the style and proportions of the main residence. Both residences have similar design elements and are equipped with gyms and saunas, while the second residence adds a home theater and billiards room to the list of amenities.

“I am delighted to have partnered with Sotheby's Concierge Auctions on yesterday's sale of the iconic 'La Dune' residence,” said Harald Grant. “This exceptional oceanfront complex represents one of the finest offerings in the Hamptons; it's no surprise that this auction resulted in a record sale.”

Sotheby's Concierge Auctions is the largest marketplace for luxury real estate. The company already holds the world record for the most expensive home ever sold at auction and the highest sale for any U.S. property listed through 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 closing will lead to funding to build new homes for families in need.

Famously, the house was used for the filming of several scenes in Woody Allen's 1978 film “Interiors”.

“Situated on the famous Gin Lane, this estate is the essence of old Southampton village in the Camelot years. The original house has been beautifully restored, sitting commandingly on top of a dune overlooking the ocean in true Southampton style,” said Grant.

Davies added: “The ocean views and setting are magnificent, embracing the best of seaside living experienced only in the best locations around the world.”

Originally built in 1892, the classic shingle main residence has a commanding presence above the rosa rugosa dunes that lead to the expansive white sandy beach, offering more than 400 feet of beachfront, Surrounded by impressive hedges, “the entire estate manufactures pure tranquility” , Concierge Auctions reported.