The Hamptons home of former J. Crew CEO, Mickey Drexler, has sold and closed for $15 million.
Once listed in 2014 for $26.5 million, the estate has received numerous price cuts in its time on and off the market over the last few years. Most recently, the oceanfront property at 120 Beach Lane in Wainscott re-listed under Douglas Elliman’s agent, Paul Brennan for $21.5 million in November of last year, but soon after cut its price down to $17.95 million.
After several months up for sale, the home sold a bit below its most recent asking price.
In the past, our readers have considered that this home is going to be torn down. Built in 2009, the beach house stands 3,500 square feet in size with three bedrooms, two full bathrooms, and two half-bathrooms. Interiors include modern design, an open floorplan, double-height ceilings, picture windows, and view of both the ocean and Wainscott Pond.
There’s also a gourmet chef’s kitchen, fireplace, and entertainment space.
According to record, Drexler purchased the property back in 2008 for $17 million.
The 2.3-acre property is host to wraparound decks and a wooded boardwalk that leads down to 315 feet of ocean frontage.
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- 120 Beach Lane [Douglas Elliman]
- Oceanfront Wainscott home returns to the market, keeps $21.5M asking price [Curbed Hamptons]
- J. Crew chairman Mickey Drexler cuts the price of his Hamptons home after just one month up for sale [Curbed Hamptons]