Southampton’s landmark La Dune home located on the exclusive Gin Lane, is scheduled to go up for auction after a turbulent financial journey. The expansive 4-acre property with 400 feet of coastline was originally bought for a meager $13.5 million in the 1990s by French-Canadian art publisher Louise Blouin. Blouin, known as the “Red Queen” because to her bold managerial style and characteristic red blazers, crowned La Dune as her jewel because of her love of real estate.
La Dune will be hitting the real estate market with a staggering $150 million price tag. The estate faced financial challenges, which ultimately led to its plunge into bankruptcy. The upcoming auction marks a pivotal chapter in La Dune’s history, offering prospective buyers an opportunity to acquire this East End gem.
The property, which was the subject of Woody Allen’s 1978 film “Interiors,” consists of two separate residences. The first is a classic home built in the shingle style that dates to 1892 and has an enduring beauty. The second was added in 2001 and was designed by the well-known French architect François Catroux. It combines traditional elegance with modern refinement. With two pools and a subterranean tennis court as outside features, this property offers an opulent lifestyle with the Atlantic Ocean as a backdrop.
Starting on January 12, there will be a bidding procedure that ends with an auction on January 24. This will be a historic auction since it will be the first time that real estate will be offered for sale alongside artwork at Sotheby’s. The La Dune sale at Sotheby’s first-ever “Visions of America” event on the Upper East Side, according to Concierge Auctions CEO Chad Roffers, is a singular meeting place for the art and real estate industries.
To help with the auction, Concierge Auctions has partnered with co-brokers Harald Grant of Sotheby’s International Realty, Tim Davis of Corcoran, and Cody Vichinsky of Bespoke. This auction stands out for not having a minimum bid restriction, which allows a wide variety of prospective purchasers to take part.
Roffers underlined that La Dune will have a free and clear title, giving buyers confidence in the property’s legal position. Potential purchasers will need to fulfill certain requirements and provide a sizeable $500,000 deposit as part of the screening procedure.
The estate’s distinctive architectural combination, strategic location, and historical history give the auction an additional element of appeal. Even though La Dune originally had an extremely high asking price, its path from a $150 million listing to bankruptcy and an auction thereafter perfectly captures the volatile nature of the real estate market.
Many real estate enthusiasts, agents, Hamptons residents, and potential buyers will be watching closely as the auction rapidly approaches. The event marks a paradigm change as Sotheby’s introduces real estate into its esteemed art auction platform for the first time, in addition to being a landmark transaction in the high-stakes world of luxury real estate. Now, bidders hoping to own a piece of the Hamptons’ legendary past will decide the fate of La Dune.
