Had you won the recent Mega Millions jackpot, Vince Camuto's $75 million grand estate on Gin Lane in Southampton would have made a nice little summer cottage in the Hamptons. (Photo: Chris Foster)
Nine West founder and shoe designer, Vince Camuto, is breaking Hamptons real estate records with the sale of his $75 million Southampton estate. Originally listed for a mere $45 million, the addition of 8-acres upped the ante for oceanfront property on Gin Lane.
In July, Camuto listed the 10,000 square-foot property - the sprawling Wooldon Manor owned in the past by members of the Woolworth dynasty and Edmund C. Lynch, founding partner of Merrill Lynch - nestled on the beach and adjacent to Lake Agawam in Southampton's tony Estate Section with both the Corcoran Group and Sotheby's International Realty.
Hamptons luxury real estate specialist Tim Davis of The Corcoran Group, who was not only the co-listing broker for the property but represented the purchaser as well recently told Forbes that, "The price spike was due to incorporating an additional nearly 8 acres of property." Not only would this sale break records in the Hamptons, where multi-million dollar price tags are de rigueur, the Camuto property would join the year's list, as curated by Forbes, of the year's most expensive home purchases tied at the #1 spot with Howard Marks', of Oaktree, Malibu Estate.
The finer details: not including the additional 8-acres the home sits on 5.14 acres and includes 472 feet of prime oceanfront.
We hear from a Sotheby's spokesman that a confidentiality agreement prevents the firm from discussing the sale however it is being reported that a New York couple purchased the property. Let the speculation begin!
Nicole, an award-winning journalist, is Executive Editor & Publisher of Hamptons.com where she focuses on celebrity interviews, fine living and design, social events, fashion and beauty. She lives on the North Fork with her husband, their two daughters, and Bernese Mountain dog, Cooper. www.hamptons.com HamptonsOnline NicoleBBrewer NicoleBBrewer NicoleBBrewer
Guest (howard banks)
from
boca raton,florida
says::
poor Vince,he is homeless now. Feb 25, 2014 6:43 pm
Guest
from
shelter island
says::
It will be interesting to see how the new owners deal with the massive erosion problem at that site. It seems something needs to be done soon. Jan 7, 2014 10:48 am
Guest (Frank)
from
Bridgehampton
says::
If the purchaser merges the two properties then it is a record for one parcel of property. If it remains two parcels of property, the Barons on Further Lane, East Hampton retains the record at $101 Million. Dec 23, 2013 6:50 pm
Guest
from
Southampton
says::
The couple is not from New York ..They are from Florida Dec 23, 2013 2:09 pm
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Guest (howard banks) from boca raton,florida says::
poor Vince,he is homeless now.
Feb 25, 2014 6:43 pm