Peloton shares may have sharply fallen this week, but founder and CEO John Foley successfully unloaded his old East Hampton house for more than he was asking.
The home at 12 Koala Lane had been listed exclusively with Catherine Jurachich, Alexis Godley and Thomas Ventura of Douglas Elliman Real Estate for $4,450,000. Though the brokerage confirmed the home went for over-ask, the exact price was not disclosed and Suffolk County deed transfers were not immediately available. The closing took place January 11.
Craig Beem of Compass represented the buyer.
Foley purchased the home in 2016 for $2.9 million, and he put the 2.17-acre wooded property on the market in November, records show.
About a month later, Foley reportedly closed on a $55 million oceanfront home off of East Hampton’s famed Further Lane. It was among the top 10 sales of 2021. The four-acre property, which had been listed with Hedgerow Exclusive Properties, went for $2.5 million above the ask. Juracich was the buyer’s agent, as well.
As for Koala Lane, the home was said to be in pristine condition with the characteristics of a classic Hamptons farmhouse, but with a modern touch. There are three levels of finished living space, six bedrooms and six-and-a-half baths.
The open floorplan features a chef’s kitchen with a suite of stainless-steel appliances by Sub-Zero, Fisher & Paykel and Marvel Professional and a butler’s pantry that has a wine refrigerator. The sunlit living room offers a wood-burning fireplace and the formal dining room has room for 10 guests. A library/den features custom bookshelves and a hidden television.
The main level also hosts a laundry room and a glass-walled atrium that can be used as an office, playroom or gallery space — or perhaps even a scenic spot for a Peloton bike?
As for the Peloton founder’s former primary suite, it is a luxurious space with a gas fireplace, dual walk-in closets, a spa-like bathroom and a Juliet balcony overlooking the pool.
Four additional guest bedrooms and three bathrooms are found on the upper level, where there is also a second laundry room (for all those Peloton workouts?).
The finished lower level provides a temperature/humidity-controlled wine cellar and a screening room with tiered seating levels and surround sound. There is also an additional bedroom, a full bathroom and a flexible space for a game room or home gym — that is where Foley put his Tread+ and bikes.
In addition to the heated double-infinity edge gunite pool and spa, there is also an oversized slate patio, as well as a basketball court, hidden from view.
Foley was likely less focused on the sale of his East Hampton house as he focuses on Peloton’s troubles. On Thursday, CNBC reported Thursday that Peloton will temporarily halt production of its digital connected fitness products as demand wanes and the company reels in costs. Peloton shares have been tanking this week, falling 80% from its highs last year.
Foley has sold $119 million worth of stock since November 2020, according to SmartInsider.