The seller of the home once owned by Lee Radziwill was Ann Tenenbaum, a venture capital investor and the widow of the late private equity pioneer Thomas H. Lee. The couple rebuilt the property twice.
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A huge oceanfront estate owned by Jacqueline Kennedy Onassis’ sister Lee Radziwill and her then-husband, actor Herbert Ross, has been rebranded as Listed for sale at $120 million.
The seller was Ann Tenenbaum, a venture capitalist and widow of the late financier and private equity pioneer Thomas H. Lee. The couple spent summers in the house with their children for more than 20 years and rebuilt it twice during that time.
After Lee died last year, Tenenbaum decided to sell the property because she always preferred the desert to the beach, she told wall street journal.
“That’s his place,” Tenenbaum told wall street journal. “I love having family and friends around me. I just don’t like the Hamptons.
Hedgerow Exclusive Properties and Modlin Group Hamptons jointly represented the listing.
The 14,000-square-foot home sits on approximately 3.6 acres in one of East Hampton’s most posh areas, around the corner from Further Lane, where a property sold for $137 million in 2014. Just steps away is The Maidstone Club, a long-standing private country club catering to the city’s elite.
According to reports, the home was originally built in the 1900s as part of an 80-acre estate owned by ink manufacturer Frank Wiborg. Philistine in the Hedge Author: Steven Gaines.
The main house has eight bedrooms, plus there is a two-bedroom guest house. It includes 225 feet of ocean frontage.
In 2001, Lee purchased the property from Lee Radziwill for $16.2 million after news broke that Radziwill and Ross were divorcing. Tenenbaum and Lee had actually rented the house from the couple for some time before that. After Tenenbaum told her husband the news, “he bought it without even telling me,” Tenenbaum told wall street journal.
As the new owners of the home, Tenenbaum and Lee originally planned to simply expand the home, but eventually discovered that the home had structural issues that necessitated rebuilding. Tenenbaum primarily wanted to restore the house to its original appearance, but with new additions including a basement with two bedrooms, a game room, a laundry room and a walk-in refrigerator.
The couple also added a tunnel that connects the pool area to some cabanas on the lower level of the house, so people don’t bring sand directly into the main area of the house.
“I always have family and people to feed,” Tenenbaum said. wall street journal.
She has three children with Li, who has two children from a previous marriage. Tenenbaum also explained that the couple basically has an open-door policy when they’re in the Hamptons, and it’s always fun.
In 2013, an electrical fire broke out in the basement, causing smoke and water to enter the house. Another rebuild was needed and the couple renovated again, still retaining the spirit of the original house. This time, they added a home theater and karaoke room on the lower level.
Tenenbaum returned to the Hamptons the summer after her husband died, but decided to move elsewhere.
“I’ve had enough of the Hamptons,” she told wall street journal. “Now it’s time for me to go to Santa Fe or Malibu or Greece – I don’t know – maybe I want to be a gypsy.”
Tenenbaum said she might buy a smaller house in the area because her children still have an attachment to the Hamptons.
According to data from appraisal firm Miller Samuel, luxury sales in the Hamptons increased by 27.8% from the first quarter of 2023 to the first quarter of 2024. As of the first quarter of 2024, the median sales price of luxury goods increased by 24.7% compared with the same period last year.
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