Nestled away from the party scene of the glitzier South & East Hampton Summer hum-drum sits the pristinely bucolic 30-acre Montauk retreat Eothen. Currently available for purchase…asking price a mere $85 MILLLION.
Eothen, meaning “of the East”, was originally built in the early 1900s as a humble Summer fishing outpost for the Church family of the Arm & Hammer baking soda fortune. However, Eothen most prolific resident was famed American pop-artist Andy Warhol, who purchased the property in 1972 with director Paul Morrissey for an alleged $225,000.00. Throughout the next 15 years the compound would be frequented by an era of glamorous superstars and personal friends of Morrisey and Warhol’s including: John Lennon, Elizabeth Taylor, Jackie O., Jackie’s sister Princess Caroline Lee Radziwill, and most notably the Rolling Stones. Author Truman Capote is said to have made an appearance during the some of the Rolling Stones visits as well.
After Warhol’s death in 1987, Morrissey donated 15 acres of their estate to a non-profit conservancy. In the early 2000’s, Morrissey put what remained of Eothen on the market for $50 million. It was not until 2007 that CEO of J. Crew Mickey Drexler purchased it for $27 million. Mr. Drexler is the current owner, and has listed Eothen for a cool $85 million by Douglas Elliman Real Estate.
Unlike, yet reminiscently similar to this estate’s stark and rustic origins, today horses graze on the 24-acre state-of-the-art equestrian facility which graces the approach to the oceanfront compound and boasts two restored barns (combined 29 stalls) originally constructed by Carl Fisher (of Miami and Montauk fame) in the late 1920’s. There is an existing house on 4 buildable acres that can accommodate a pool and/or possible tennis court. The property includes 6 individual cottages which have been meticulously restored by architect extraordinaire Thierry Despont.
A true East End landmark, Eothen represents a rare opportunity to own one of America’s greatest and most storied summer compounds. Few locations in the world afford the unparalleled combination of an approx. 30-acre oceanfront compound with a historic equestrian farm. Surrounded by miles of riding trails and hundreds of acres of adjoining oceanfront reserve, this property provides ultimate seclusive fit for America’s elite maneuvering to secure a dynasty the likes of Kennebunkport’s Bushs or Hyannis Port’s Kennedys.
update: Dec. 2015 Billionaire Adam Lindemann and his wife, art dealer Amalia Dayan, have closed on Eothen for $50 million.