The vendor of the house as soon as owned by Lee Radziwill is Ann Tenenbaum, enterprise capital-investor and widow of late private-equity pioneer Thomas H. Lee. The couple rebuilt the property twice.
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An enormous oceanfront property as soon as owned by the youthful sister of Jacqueline Kennedy Onassis, Lee Radziwill, and her then-husband actor Herbert Ross, has hit the marketplace for $120 million.
The vendor is Ann Tenenbaum, a enterprise capital-investor and widow of the late financier and private-equity pioneer Thomas H. Lee. The couple spent summers in the home for greater than 20 years with their kids and ended up rebuilding the property twice throughout that point.
Within the wake of Lee’s passing final 12 months, Tenenbaum has determined to promote since she at all times most popular the desert to the seashore, she informed The Wall Avenue Journal.
“It was very much his place,” Tenenbaum informed The WSJ. “I loved having family and friends around. I just didn’t love the Hamptons.”
Hedgerow Unique Properties and Modlin Group Hamptons are co-representing the itemizing.
The 14,000-square-foot house sits on about 3.6 acres and is located in one in every of East Hampton’s ritziest areas, across the nook from Additional Lane, the place a property bought for $137 million in 2014, and some paces from The Maidstone Membership, a longstanding non-public nation membership for town’s elite.
The house was initially constructed within the 1900s and a part of an 80-acre property owned by ink producer Frank Wiborg, in keeping with Philistines on the Hedgerow by Steven Gaines.
The principle home contains eight bedrooms, and there may be additionally a two-bedroom guesthouse on the property. It contains 225 ft of ocean frontage.
Lee bought the property in 2001 from Lee Radziwill for $16.2 million after information broke that Radziwill and Ross had been divorcing. Previous to that, Tenenbaum and Lee had really rented the home for a time from the couple. After Tenenbaum informed her husband the information, “He bought it without even telling me,” Tenenbaum informed The WSJ.
As new house owners of the house, Tenenbaum and Lee had deliberate on merely increasing the house, however in the end found that it had structural points, so it wanted to be rebuilt. Tenenbaum largely needed the house to be rebuilt because it had been, however new additions included a basement with two bedrooms, a playroom, a laundry and a walk-in fridge.
The couple additionally added a tunnel that attaches the pool space to some cabanas within the house’s decrease stage, so that individuals wouldn’t observe sand instantly into the principle space of the home.
“I always have family around and people to feed,” Tenenbaum informed The WSJ.
She and Lee had three kids collectively, and Lee had two kids from a previous marriage. Tenenbaum additionally defined that the couple largely had an open-door coverage whereas within the Hamptons and had been at all times entertaining.
In 2013, there was {an electrical} hearth within the basement, and the home incurred smoke and water injury as outcome. Yet one more rebuilding was referred to as for, and the couple renovated once more, nonetheless preserving the spirit of the unique home. This time, they added a house theater and karaoke room to the decrease stage.
Tenenbaum returned to the Hamptons the summer time after her husband handed away, however has determined to maneuver on to different locales.
“I’m done with the Hamptons,” she informed The WSJ. “Now it’s my time to go to Santa Fe or Malibu or Greece — I don’t know — maybe I want to be a gypsy for a little bit.”
Since her kids nonetheless have an attachment to the Hamptons, Tenenbaum stated she’ll seemingly purchase a smaller home within the space.
Luxurious gross sales within the Hamptons rose 27.8 % between Q1 2023 and Q1 2024, in keeping with appraisal agency Miller Samuel. As of the primary quarter of 2024, the median luxurious sale value rose 24.7 % on an annual foundation.
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