Andy Warhol’s former Montauk estate sells for $50M

Late artist Andy Warhol’s former estate in Montauk has been sold for $50 million. Photo Credit: Jim McIsaac

Andy Warhol’s oceanfront former estate in Montauk has sold for $50 million, listing agent Paul Brennan of Douglas Elliman Real Estate confirmed.

Called Eothen, Greek for “from the east,” the property was originally listed by it’s owner, J.Crew CEO Mickey Drexler, for $85 million. The buyer, art collector Adam Lindemann, did not purchase the property’s 24-acre horse farm, which is still available. No price for the farm has been set yet, but Brennan said it would likely fall between $25 million and $35 million.

Lindemann said this fall that he planned to preserve and live on the former Warhol estate, which has a house and six cottages on nearly 6 acres. The estate was built in the early 1930s as a fishing camp by the family that built the Arm & Hammer baking soda brand, Brennan says. Warhol later entertained such celebrities there as Mick Jagger, Elizabeth Taylor and John Lennon.

Lindemann recently put another Montauk home he owns on the market for $29.5 million. The 3-acre property, on bluffs overlooking the ocean, has a six-bedroom, 8 1⁄2-bathroom home designed by British architect David Adjaye, whose clients include actor Ewan McGregor and the late fashion designer Alexander McQueen.

It is listed with Ed and James Petrie of Compass and Rylan Jacka of Sotheby’s International Realty.