A 24-acre horse farm owned by former J. Crew CEO Mickey Drexler has been on and off the market, and was previously offered as a compound with the neighboring 5.7-acre waterfront parcel that once belonged to Andy Warhol known as Eothen. The two properties were once for sale for a combined $85 million.
In 2015, art collector Adam Lindemann purchased Eothen for $48.7 million, but didn’t buy the 24-acre horse farm at 8 Old Montauk Highway. The Old Montauk Highway address is still owned by Drexler (in the name of Drexler 2008 Family Trust on public record), which he bought in 2010 for $7 million.
The property includes a 5,000-square-foot traditional style home with four bedrooms, three bathrooms, and two fireplaces, plus two barns—each with an apartment—and riding trails and paddocks. The 2005 home and the older barns have been totally renovated. According to the listing, the property has 4 acres of buildable land.
Listed with Saunders Real Estate agent, Chris Coleman, the property is currently asking $7.95 million. It was once for sale for $14.75 million in 2017, but has come down in asking price over the last year. Coleman has represented the listing for six months, and the price has just come down from $9.9 million.
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- 8 Old Montauk Highway [Saunders]
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- Former Warhol Montauk Estate Back on the Market for $85M [Curbed Hamptons]