The Wall Street Journal has published a rather enchanting story this week about photographer Peter Beard's mission to sell his Montauk property. A relic of the Studio 54 era, the 6 acre spread (with 5 blue-trimmed cottages) is off the official market, but available to friends and acquaintances of Beard and his wife, Nejma. Listed at both $32 million and $26 million in recent years, brokers have appraised the ranch to be worth less than $25 million, but a true number is difficult to come by considering the property's history. Beard's wife is doing most of the selling and sees herself as 'a guardian of the land', recently turning down a $21 million offer from buyers who were not right.
Neighboring the former Warhol estate (now owned by J.Crew CEO Mickey Drexler), the property is as wild as its owners. The 'ramshackle cottages' have no main house anymore, as the transformed windmill that once served as its centerpiece burned down some 30 years ago. He purchased the property in 1972, for $135,000. Beard is no longer in love with Montauk, as the former artists' colony has become too crowded and full of 'seriously primitive behavior' in his mind.
· The Original Hamptons Party House [WSJ]