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Mickey Drexler, J. Crew’s CEO, is selling another one of his homes. This time it is an estate in Montauk in the Hamptons which is now on the block for $85 million and was once owned by Andy Warhol.
The new owners will also get a piece of history as Jackie Onassis, Mick Jagger, Elizabeth Taylor and John Lennon all stayed there when Warhol owned it.
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The sale comes not long after Drexler put his Westhampton beach home up for sale for $26.5 million and after her recently cut the price on his Tribeca apartment by $5 million down to $29.5 million.
The 30 acre oceanfront property was acquired by Drexler in 2007 for $27 million. So he is looking for more than a 200% profit in only 8 years. Not bad!
Located at 16 Cliff Drive & 8 Old Montauk Highway Montauk, New York, the house has 9 bedrooms and 11.5 baths over 14, 968 square feet.
It also has stables.
From the listing with Douglas Elliman:
Eothen (meaning “from the east”) represents a rare opportunity to own one of America’s greatest and most storied summer compounds.Few locations in the world afford the unparalleled combination of a 30-acre oceanfront compound with a historic equestrian farm. Surrounded by miles of riding trails and hundreds of acres of adjoining oceanfront reserve, this property provides ultimate privacy while being located in the hottest market on the east end: Montauk.A true East End landmark, the 5.7-acre estate was built in the early 1930’s as a ‘fishing camp’ by the Church family (makers of the Arm & Hammer baking soda fortune). Subsequent owner Andy Warhol made the compound famous frequently entertaining a host of luminaries including Jackie Onassis, Mick Jagger, Elizabeth Taylor and John Lennon.Horses graze on the 24-acre equestrian facility which graces the approach to the oceanfront compound and boasts two restored barns (combined 29 stalls) built by Carl Fisher (of Miami and Montauk fame) in the late 1920’s.
There is an existing house on 4 buildable acres that can accommodate a pool and/or possible tennis court.The property includes 6 individual cottages which have been meticulously restored by architect extraordinaire Thierry Despont. The unique setting offers unparalleled proximity to the Atlantic Ocean with stunning views of the sea and rugged cliffs of Montauk.No description does this rare property justice. It’s a picture that must be seen in order to capture its essence.
