Just six months after going on the market, a Montauk oceanfront estate made famous by its former owner, pop artist Andy Warhol, is in contract with art collector Adam Lindemann.
The 5.7-acre Eothen estate was built in the 1930s by the Church family of the Arm & Hammer Baking Soda company. The estate includes a house, 4 buildable acres with room for pool and tennis, and six cottages.
Warhol purchased Eothen in 1971 and welcomed many of his famous friends, including Mick Jagger, Keith Richards, Jacqueline Kennedy Onassis and Elizabeth Taylor, to name a few.
In 2007, Mickey Drexler, the CEO of J. Crew, purchased the property for $27 million and began extensive renovations under the watchful eye of architect Thierry Despont. It was listed in June 2015 for $85 million, though that asking price also included a 24-acre equestrian property. According to broker Paul Brennan of Douglas Elliman Real Estate, Lindemann is in contract to purchase the 5.7-acre estate, while the equestrian property remains on the market.
“It’s one of the most unique parcels on the Eastern Seaboard,” Brennan said of Eothen, noting that it is on the ocean and neighbors a 300-acre reserve. Because the estate is pre-existing, non-conforming, “You’ll never be able to built it again,” he said.
Lindemann won’t have far to move if the sale goes through as planned—he lives just six doors away from Eothen.
The contract price has not been disclosed.