Peloton co-founder John Foley appears to have sold his Hamptons oceanfront house for $4 million less than he purchased it just two years ago.
According to Suffolk County deed transfers, the house at 442 Further Lane in Amagansett sold for $51 million on May 30, at the start of the summer season. That property last traded in early December of 2021 for $55 million — $2.5 million above the asking price at the time and one of the priciest that year.
The seller was listed officially as SaltHouse LLC, and the buyer as Further Hampton LLC. It is not clear which brokers were involved in the most recent trade.
Hedgerow Exclusive Properties had the listing back in 2021 and put the house into contract in less than 30 days. Catherine Juracich, then with Douglas Elliman and now with Corcoran, brought the buyer, who The New York Post reported was Foley.
Just three months later, in March of 2022, Foley and his wife, Jill, were reportedly quietly already looking to unload the property. The decision was likely out of necessity.
When they closed on the property, Peloton stock was already plummeting after an accelerated rise due to demand during the COVID-19 pandemic.
Foley resigned as Peloton’s CEO in February 2022, and then as the executive chairman of Peloton’s board in September of last year. When stocks hit a low in October 2022, “Foley faced a margin call on personal loans from Goldman Sachs, for which he had pledged Peloton holdings once worth $300 million as collateral,” according to a recent story in Fast Company.
Foley is now working on building a new company called Ernesta.
As for the Further Lane home, it was designed by the esteemed late architect Francis Fleetwood. The 6,100-square-foot home sits on a four-acre property overlooking the Atlantic Ocean.
“Immaculately designed, the five-bedroom home captures natural light and ocean views through large-paned windows. The connectivity throughout the main level invokes an intimate, endearing ambiance while the estate strikes an ideal balance for entertaining, with spaces and amenities suitable for all aspects of entertainment,” the listing said back in 2021.
The five-bedroom, seven-bath home includes a primary suite can be found in a separate wing on the first floor with dual bathrooms, a walk-in closet, a sundeck and an adjacent office space. The second-floor bedrooms also boast ocean views and access to multiple sundecks.
The gunite pool and spa are surrounded by mature landscaping and nearby beach access.
Despite the discount, the sale of 442 Further Lane is among the top sales of 2023. In August, the nearby property called Lasata, the East Hampton home where Jackie Kennedy Onassis spent summer vacations as a child, was purchased by the designer Tom Ford for $52 million.
So far, the top residential sale is an oceanfront compound that traded for $91.5 million in an off-market deal in January. Suffolk County deed transfers show that 32 Windmill Lane and 26 Windmill Lane in East Hampton sold in two separate transactions — $77,775,000 and $13,725,000 respectively.
Also sold in January was the oceanfront estate at 51 West End Road in East Hampton. Lloyd and Barbara Macklowe, founders of the prestigious Macklowe Gallery, fetched $35 million for the property, purchased by their neighbor, Hard Rock Cafe’s co-founder Peter Morton.
It is not clear if the Foleys owns any other property in the Hamptons. In January of 2022, the Foleys sold their more modest home in East Hampton’s Northwest Woods. Records show it went for $4.7 million, also over ask, after several months on the market.