A lofty Hamptons listing has finally come back down to Earth.
An oceanfront estate in East Hampton Village that once sought a sky-high $120 million has sold for $72 million, marking one of the biggest deals on the East End so far this year — but at a steep discount from its original ask. At the time, the $120 million price tag was the most expensive in the Hamptons.
The sprawling 3.6-acre compound at 43 East Dune Lane, known as “Dune Cottage,” officially closed on March 6, according to records and Behind the Hedges. The final price comes after a series of markdowns, with the most recent asking price listed at $84.9 million.
The buyer has not yet been publicly identified.
Set atop a dune overlooking the Atlantic, the estate commands roughly 225 feet of direct ocean frontage and sweeping views that stretch across the water and surrounding landscape.
The residence sits between the ocean, Hook Pond and the manicured grounds of the Maidstone Club golf course — one of the most exclusive pockets of East Hampton.
Originally built in 1910, the stucco home was designed by architect Grosvenor Atterbury and once formed part of a much larger estate owned by Frank Wiborg, a self-made ink manufacturer whose family name lives on nearby at Wiborg’s Beach.
Over the decades, the property passed through a series of notable owners. Jazz Age socialite Sara Murphy — often cited as a literary inspiration for F. Scott Fitzgerald — inherited the estate through the Wiborg family.
The original mansion on the grounds was eventually demolished in the early 1940s after becoming too costly to maintain, though the smaller residence known as Dune Cottage remained.
The property later landed in the hands of Lee Radziwill, sister of Jacqueline Kennedy Onassis, and her then-husband Herbert Ross, who acquired the home in the late 1980s.
At one point comedian Jerry Seinfeld nearly purchased the residence for $19 million in 1999, but the deal ultimately fell through.
Private-equity titan Thomas H. Lee and his wife, venture capitalist and philanthropist Ann Tenenbaum, bought the estate in 2001 for $16.2 million after renting it for a summer season. During their ownership, the couple undertook extensive renovations, including rebuilding the residence following a 2013 fire while preserving much of the home’s historic character.
Lee, considered a pioneer of leveraged buyouts, died in February 2023 at age 78. Tenenbaum later decided to sell the longtime family retreat.
The main residence spans roughly 11,000 square feet and includes 10 bedrooms and 12 full bathrooms, along with two additional half-baths. A separate guest studio sits beside a Har-Tru tennis court, providing additional accommodations for visitors.
Inside, the home features a soaring living room with 15-foot ceilings that opens onto an all-season terrace facing the ocean. A lower level adds about 5,000 square feet of additional space and includes a screening room, a fitness center and a wellness area.
Outside, a private grotto leads to a heated oceanside pool and spa tucked among the dunes, offering a secluded vantage point just steps from the Atlantic.
The property was marketed by Terry Cohen of Compass and Hedgerow Exclusive Properties, along with Chris Covert and Adam Modlin of the Modlin Group Hamptons.
