Known as “Dune Cottage,” the East Hampton offering just got a $25 million price cut after seven weeks for sale, according to a listing update on the Out East listings portal.
That brings its current asking price to a discounted, but still high, $95 million. That now makes it the second-priciest for-sale listing in the Hamptons, Out East also shows, behind a two-home compound in Water Mill that hit the market for $99.5 million in the springtime, as The Post reported in April.
After 20 years in the Hamptons, Ann Tenenbaum, the now-$95 million home’s owner, has been eager to unload the property— revealing in a Wall Street Journal story in June that she wanted to put her Hamptons days behind her.
Tenenbaum, a venture-capital investor and philanthropist, aimed to part ways with the estate following the death of her husband, private-equity titan Thomas H. Lee, last year.
“It was very much his place,” she told the Journal. “I loved having family and friends around. I just didn’t love the Hamptons.”
(Getty Images for Film at Lincoln Center)
Still, the property is quite prime.
Standing at 43 East Dune Lane, it features 225 feet of direct Atlantic Ocean frontage and is near the long-prestigious Further Lane. The estate encompasses approximately 3.6 acres.
The main house, which covers around 11,000 square feet, includes eight bedrooms. Additionally, there is a separate two-bedroom guest cottage, a pool and a tennis court.
The couple acquired the estate from socialite Lee Radziwill — the sister of Jacqueline Kennedy Onassis — for $16.2 million in 2001 and underwent two major reconstructions. Initially it was for significant renovations after purchase, then later after a destructive fire in 2013.
(Courtesy of Hamptons Real Estate Association)
(Courtesy of Hamptons Real Estate Association)
(Courtesy of Hamptons Real Estate Association)
(Courtesy of Hamptons Real Estate Association)
“Nobody was hurt, that was the most important thing,” Tenenbaum told the Journal.
A unique feature of the house is a tunnel that connects the heated pool to the lower level, designed to keep beach sand out of the clean living spaces. Tenenbaum was inspired by a similar design she had seen in Positano, Italy.
Despite all the perks of custom design, Tenenbaum never felt truly at home out east.
“I’m done with the Hamptons,” she told the Journal. “Now it’s my time to go be in Santa Fe or Malibu or Greece — I don’t know — maybe I want to be a gypsy for a little bit.”
She cherishes memories of hosting her children’s friends, as their home was lively and filled with activity throughout the summers.
“We had an open-door policy,” she recalled. “It was fun, but it was a lot of work by the end,” even with assistance.
Amenities include a fully equipped lower level with a screening room, a gym and a private grotto leading to the pool, according to the listing.
The home is co-listed by Adam Modlin and Christopher Covert of the Modlin Group, along with Terry Cohen of Hedgerow Exclusives. They did not respond to The Post’s requests for comment.
