With the news this morning that it is none other than Ralph Lauren purchasing Edward Albee’s Montauk oceanfront property, we decided to figure out just how much the legendary tastemaker will own. The answer is 9.94 acres of the best oceanfront land in the world (we’re slightly biased). We estimate about 850 feet of direct ocean frontage, as well.
Mr. Lauren has owned his original 5.4 acre spread at since sometime in the early 1980s. About five years ago or so, he purchased 316 Old Montauk Highway, which is a 1.27 acre oceanfront spot next to Gurney’s, with a house copied from the one down the road at 644 Old Montauk Highway. Now he’ll be adding Mr. Albee’s 3.27 acres, which will give him five buildings, two tennis courts, and two pools. We’ll be interested to see what he does with the Albee property. Knock it down and build new? Renovate? Servants’ quarters?
Mr. Albee’s property was repped by Paul Brennan at Elliman; last asking price was $20 million. But with Ralph Lauren’s estimated worth of $6.5 billion, what’s another $20 million here or there?
Well done to all concerned, and Mr. Lauren, we’re neighbors; drop by for a nice cup of tea any time!
For more, click here. 320 Old Montauk Highway, Montauk