The Montauk cattle ranch considered one of the oldest in America has traded to J.Crew CEO Mickey Drexler for $11.4 million, according to the East Hampton Press. The 22-acre Deep Hollow Ranch consists of an 18-acre preservation easement, a rustic farmhouse, and enough barns and stables to make your head spin. Now before you cry End of the End!, Drexler says he'll keep the ranch's current operators on-board for five years, meaning the "overall appearance will change little." And after that, he even plans to keep it "basically the same, just as a more pastoral setting rather than a working farm." We tend to believe Drexler here, especially since an American brand like J.Crew would never disturb the site where Billy Joel and Jimmy Buffet once played. Besides, Drexler already has a ton of East End property to keep him busy.
#1. Drexler is no stranger to famous Montauk real estate. He also purchased Andy Warhol's Montauk compound in 2007 for about $30 million.
#2. No East End real estate portfolio would be complete without a little Sagaponack. And for that reason, Drexler decided to stake a claim on "property fronting on Sagg Pond in Sagaponack."
#3. Last, because one can never have enough oceanfront land, Drexler also purchased "an oceanfront estate in Wainscott" a few years back as well. Jealous yet?
· Deep Hollow Ranch Sold To J.Crew Chief [27 East]