An oceanfront property in Southampton, listed at $150 million, stands because the priciest residence on the market within the Hamptons — and is struggling to maneuver off the market.

The compound, referred to as La Dune, is probably going for use as a summer season residence and attracts from a tiny pool of patrons, in all probability billionaires, who might afford to foot the invoice. Even within the Hamptons, $100-million-plus gross sales are few and much between.

La Dune, named after the sandy dune it sits behind, spans about 4 acres, throughout two adjoining heaps with two properties, two swimming swimming pools and a sunken tennis courtroom.

It hasn’t been simple to discover a purchaser for the sprawling compound, which features a basic Hamptons-style shingled most important residence, initially constructed greater than 100 years in the past, and a second residence on the adjoining lot, constructed within the early 2000s.

“This home is the furthest factor from a tear down, but when the home wasn’t right here, this lot alone, every considered one of them could be price $50 million,” itemizing agent Shawn Elliott of Nest Seekers instructed CNBC.

And Elliott guarantees La Dune’s worth is not simply designed to seize headlines.

“I consider that is, 100%, a really real looking worth level to draw patrons on this market place,” mentioned Elliott, who co-lists the house with Geoff Gifkins. 

The property is located on 400-plus ft of super-prime beachfront alongside Gin Lane, typically known as “billionaire’s seaside.” It is one of the vital unique strips of white sand on this planet.

“In actual property we all the time know it is location, location, location, that is not a cliche,” Elliot mentioned. “You might be actually on the 50 yard line of nothing however wealth.”

Again in 2016 La Dune’s proprietor, artwork journal writer and collector Louise Blouin, put the property available on the market with Sotheby’s Worldwide at an asking worth of $140 million. On the time, there have been no takers.

Over time, the residence has been listed as a summer season rental. This yr a one-month keep would set you again $1.2 million. 

Since 2016, the house’s been on and off the market, and Blouin has reportedly confronted a possible foreclosures and chapter courtroom proceedings to keep up management of the compound. 

She re-listed La Dune in August with a brand new brokerage agency and raised the ask to $150 million.

If the crew at Nest Seekers will get wherever close to what their shopper desires for the compound, it can break an all-time report within the Hamptons.

Based on public information analyzed by Jonathan Miller, president of the true property appraisal and consulting firm Miller Samuel, solely 5 compounds have ever offered for greater than $100 million within the Hamptons. 

The all-time report continues to be held by the 2014 sale of three separate however contiguous heaps spanning 16 acres situated at 60-64 Additional Lane in East Hampton that traded for $137 million.  

The 2 most up-to-date 9-figure offers, in accordance with public information, had been each in Water Mill, a hamlet additionally within the City of Southampton about two miles east of La Dune.

First got here the mega-sale of a 42-acre, 20,000-square-foot oceanfront property generally known as Fordune, situated at 90 Jule Pond Drive. The previous Ford household property was initially listed for $175 million in 2017 and sat available on the market for nearly 4 years earlier than promoting for $105 million in 2021, a 40% low cost however nonetheless an all-time report for single-lot properties within the Hamptons.

In 2022, a good larger sale eclipsed that one within the quiet off-market buy of 70 Cobb Street, recorded at $118 million. That compound which sits on a creek, not the ocean, was comprised of 4 contiguous heaps spanning about 21 acres. The sale included two properties that collectively delivered greater than 32,000 sq. ft of dwelling area. The mega-deal stays the Hamptons’ second-highest sale of all time.

Here is a better take a look at the most recent compound vying for a spot among the many quick record of summer season properties which have offered for over $100 million:

The La Dune compound spans 4 acres with 21,000 sq. ft of dwelling area throughout two properties, in accordance with the itemizing.

The four-story most important residence, situated at 366 Gin Lane, is greater than 11,000 sq. ft.

The three-story second residence at 376 Gin Lane, which proprietor Blouin refers to because the “household residence,” is greater than 9,600 sq. ft.

The pair of mansions features a whole of 19 bedrooms and 16 baths.

The bottom stage of the so-called household residence features a health club, steam room, bar, billiards room and residential theater.

There are a number of kitchens on the property together with a big workers kitchen for catering occasions on the primary ground of the primary home. There’s additionally a extra modest household kitchen, one ground above it.

Blouin instructed CNBC she’s promoting her Hamptons residence partially as a result of she and her kids spend most of their time in Europe — not in Southampton.

Based on public information, property taxes throughout each heaps that type the La Dune compound whole virtually $130,000 per yr.