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 youngsters and ended up rebuilding the property twice throughout that point.
Within the wake of Lee’s passing final yr, Tenenbaum has determined to promote since she all the time most well-liked the desert to the seashore, she instructed The Wall Road Journal.
“It was very much his place,” Tenenbaum instructed 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 residence sits on about 3.6 acres and is located in considered one 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 the 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 line with Philistines on the Hedgerow by Steven Gaines.
The principle home consists of eight bedrooms, and there’s additionally a two-bedroom guesthouse on the property. It consists of 225 toes of ocean frontage.
Lee bought the property in 2001 from Lee Radziwill for $16.2 million after information broke that Radziwill and Ross have been divorcing. Previous to that, Tenenbaum and Lee had really rented the home for a time from the couple. After Tenenbaum instructed her husband the information, “He bought it without even telling me,” Tenenbaum instructed The WSJ.
As new homeowners 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 residence’s decrease degree, 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 instructed The WSJ.
She and Lee had three youngsters collectively, and Lee had two youngsters from a previous marriage. Tenenbaum additionally defined that the couple largely had an open-door coverage whereas within the Hamptons and have been all the time entertaining.
In 2013, there was {an electrical} fireplace within the basement, and the home incurred smoke and water harm as end result. 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 degree.
Tenenbaum returned to the Hamptons the summer season after her husband handed away, however has determined to maneuver on to different locales.
“I’m done with the Hamptons,” she instructed 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 youngsters nonetheless have an attachment to the Hamptons, Tenenbaum stated she’ll possible purchase a smaller home within the space.
Luxurious gross sales within the Hamptons rose 27.8 % between Q1 2023 and Q1 2024, in line with appraisal agency Miller Samuel. As of the primary quarter of 2024, the median luxurious sale worth rose 24.7 % on an annual foundation.
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