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!
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