We’re only one month down in 2026, but already, there is a major deal inked in the Hamptons. An oceanfront 3.6-acre home in East Hampton Village, with a last ask of $84.9 million.
The listing agents are Terry Cohen at Compass, Hedgerow Exclusive Properties and Chris Covert and Adam Modlin at the Modlin Group.
Dune Cottage, as it is known, is located at 43 East Dune Lane, a prominent address off Highway Behind the Pond, situated between the Atlantic Ocean, Hook Pond and more than 200 acres of the manciured golf course at the Maidstone Club. When it hit the market with Cohen, then at Hedgerow, and Covert in 2024, it was billed as a once-in-a-lifetime opportunity.
The in-contract price has not yet been revealed.
When Behind The Hedges contacted Covert about the deal, he says: “Without speaking specifically to this deal, what we are seeing is continued activity at the ultra high end — Activity, at a time of year that is usually very quiet, and we’re seeing it not just here but in Southampton, Bridgehampton and Sagaponack. The data will show that the ultra high-end is ripping right now.”
What is contributing to this activity? “The ultra-high net worth individuals are diversifying their holdings. They are putting some of their money into tangible assets. We’re just seeing a huge creation of wealth over the last several years and people are spending it.”
“43 East Dune offers an unparalleled experience with its breathtaking ocean views, utmost privacy, and luxurious amenities in the most coveted location of the Hamptons. The meticulously curated finishes and furnishings enhance the home’s elegance while honoring its historical significance,” says Cohen, a partner at Hedgerow.
Listed in 2024, the expansive residence, steeped in history, was asking $120 million and has been the most expensive property on the market.
Built in 1910, the stucco home was then part of an 80-acre estate that belonged to Frank Wiborg, an ink manufacturer and self-made millionaire, for whom the nearby Wiborg’s Beach is named.
The Grosvenor Atterbury-designed home was considered the grandest of the time, according to an article in The East Hampton Star. Jazz Age socialite Sara Murphy, Wilborg’s eldest daughter, who was the literary inspiration for F. Scott Fitzgerald, inherited the property. By 1941, Murphy was unable to sell or rent the mansion and it became too expensive to maintain, so it was purposely burned down by the East Hampton Fire Department, The Star reported.
But the “cottage” on the property remained. Former First Lady Jacqueline Kennedy Onassis’ sister, Lee Radziwill, and her then-husband Herbert Ross eventually bought the house in the late 1980s for $6.2 million. It’s not far from where the former First Lady and Radziwill spent summers as children.
Comedian Jerry Seinfeld almost bought the house in 1999 and had a signed contract for $19 million, The Observer reported at the time, but Radziwill and Ross backed out.
Thomas H. Lee, a billionaire considered a pioneer of private equity investment and leveraged buyouts, according to CNBC, and his wife, Ann Tenenbaum, a venture capital investor and philanthropist, bought the property in 2001 after renting it for the summer. Records show Lee and Tenenbaum paid $16.2 million. They undertook major renovations, including rebuilding it in 2013 following a fire, but ensuring it remained much of how it was originally built, The Wall Street Journal reported.
Lee died in February 2023 at the age of 78 and Tenenbaum decided to put it on the market.
The 11,000-square-foot residence enjoys 225 feet of oceanfront. “The house is accessed through an allée of specimen beech trees and is situated atop a dune, offering magnificent views from a location that cannot be replicated,” the listing description reads.
The living room features 15-foot high ceilings and opens to an oceanside all-season terrace with breathtaking water views.
There are a total of 10 bedrooms, 12 full bathrooms and two half-baths between the main residence and the 1,500-square-foot guest studio, adjacent to the Har-Tru tennis court.
A full lower level offers approximately 5,000 square feet of additional space and features a screening room, gym and wellness center.
A private grotto leads to an oceanside heated, 24-by-58-foot pool and spa, which are nestled amid the dunes.
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