Billionaire Adam Lindemann and his wife, art dealer Amalia Dayan, the granddaughter of Moshe Dayan, has closed on Eothen, the former oceanfront estate of Pop artist Andy Warhol, in Montauk for $50 million.
The deal, which marks the most expensive home sale ever in Montauk, closed on Monday, December 14.
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The 5.7-acre property, which neighbors a 300-acre reserve, went into contract with Lindemann in October, just six months after going on the market.
Built in the 1930s by the Church family of the Arm & Hammer Baking Soda company, Eothen includes a house, 4 buildable acres with room for pool and tennis, and six cottages.
Lindemann and Dayan’s collection, which also includes art-filled homes in Manhattan and Connecticut, started when they met 10 years ago and has become well known for its boldness and financial clout. “It has balls, and not only because of the scale, ” says Dayan, “There is tremendous belief and commitment.”
She met Lindemann at a Phillips de Pury preview in New York, where she was working. “I knew his brother, and I thought maybe there’s a slight potential he might buy something in the day sale.” she told how To Spend it .
Warhol purchased the property in 1971 and hosted his many famous friends there, including Mick Jagger, Keith Richards, Jacqueline Kennedy Onassis and Elizabeth Taylor, to name a few.
In 2007, Mickey Drexler, the CEO of J. Crew, purchased the property for $27 million and began extensive renovations with architect Thierry Despont.
It was listed in June 2015 for $85 million, though that asking price also included a 24-acre equestrian property. Lindemann has purchase only the 5.7-acre estate, while the equestrian property remains on the market, according to Paul Brennan of Douglas Elliman Real Estate, who brokered the deal, says Dans Papers
Brennan called Eothen “one of the most unique parcels on the Eastern Seaboard, ” noting that because the estate is pre-existing, non-conforming, “You’ll never be able to built it again.”
Lindemann knew Warhol and collects his work, according to The Wall Street Journal, and his move should be easy—he lives just six doors away from Eothen.
