From NBCUniversal:

A Hamptons estate previously listed for $150 million was sold at auction for $88.5 million. The property, known as La Dune, was sold in two parts for $40.5 million and $38.5 million. It was once the most expensive listing in the Hamptons. Last year, the estate was put into Chapter 11 bankruptcy.

The La Dune estate includes two mansions with 23 bedrooms, two pools, a tennis court, a home theater, spa, sauna, and two gyms. The property has 400 feet of oceanfront and lush landscaping. The previous owner, Louise Blouin, purchased the property for $13.5 million in the 1990s and spent millions building a second mansion on the property in 2001.

Real estate sales in the Hamptons slowed last year due to a lack of inventory. However, two properties sold for over $50 million, indicating strong demand at the high end of the market. La Dune is among the most expensive homes sold at auction, alongside an estate in the Los Angeles area that sold for $141 million.

The sale of La Dune is pending approval from the bankruptcy court. The property was sold by Concierge Auctions in partnership with Harald Grant of Sotheby’s International Realty, Tim Davis of The Corcoran Group, and Cody Vichinsky, president and founding partner of Bespoke Real Estate.



Read more: Hamptons La Dune mansion once listed for $150 million sells at auction