The oceanfront compound at 404 & 406 Old Montauk Highway in Montauk has just come on the market for $24.95 million. In the past, the 3.1-acre property with the main house at 406 Old Montauk Highway was available for sale, but after relisting, an additional 2.8-acre empty parcel has been tacked on to the listing.
Art collector Adam Lindemann owns both parcels. He purchased the 404 Old Montauk Highway property in 2008 for $6.5 million and the 406 address in 2007 for $15 million—so in total, he spent $21.5 million on the entire compound. The art collector also owns the iconic oceanfront Eothen compound that once belonged to Andy Warhol, also in Montauk.
In 2015, the renovated main house at 406 Old Montauk Highway was listed for sale with a $29.5 million ask before multiple price cuts brought that price down to $20 million by April of 2018. According to the Zillow price history, the listing was removed by June of 2018. Now, the main house on 3.1 acres is available for sale on its own for $18.95 million.
Corcoran Group agent Gary DePersia, who represents the listing, told Curbed:
...the land alone is not being offered at this time but would be available if someone were to [buy the] house alone. No price has been set for land in that scenario yet.
The current $24.95 million price tag will afford buyers 6 acres of land between two single and separate parcels and a 7,500-square-foot home that was renovated by architect Sir David Adjaye with interiors by Bob Melet. The six-bedroom, eight and a half-bath house is being offered fully furnished.
The oceanfront house was built in 2004 and was renovated after Lindemann purchased the property. Features include walnut floors, a poured concrete countertop in the kitchen, and a second-level master wing with a spa-like bathroom and a fireplace. Meanwhile, the finished lower level is host to a billiards room with a vintage bar, a home theater, and a wine cellar. Outside, homeowners will enjoy a heated gunite pool, a two-car garage with a hydraulic lift, and professional landscaping by Miranda Brooks.
If the new owner chooses to build, the empty 2.8-acre property at 404 Old Montauk Highway has the permits in place for a guest house to be built. That property could accommodate a 4,000-square-foot structure.
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- 404 & 406 Old Montauk Highway [Corcoran]
- Art collector’s Montauk home gets $3M cut from its asking price [Curbed Hamptons]
- David Adjaye-Designed Montauk House Now $10M Cheaper [Behind the Hedges]
- Owner of Andy Warhol’s previous Montauk estate looks to make some exterior changes [Curbed Hamptons]