The vendor of the previous Lee Radziwill house is Ann Tenenbaum, a enterprise capitalist and widow of the late impartial pioneer Thomas H. Lee. The couple rebuilt the property twice.
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A big beachfront property that when belonged to Jacqueline Kennedy Onassis’ youthful sister, Lee Radziwill, and her actor ex-husband Herbert Ross, has hit the marketplace for $120 million.
The vendor is Ann Tenenbaum, a enterprise capitalist and widow of the late financier and personal fairness pioneer Thomas H. Lee. The couple spent summers on the home for greater than 20 years with their youngsters and final renovated the property twice throughout that point.
After Lee’s passing final yr, Tenenbaum has determined to promote as a result of he at all times most well-liked the desert to the ocean, he mentioned. The Wall Road Journal.
“It was very a lot his place,” Tenenbaum mentioned WSJ knowledge. “I cherished having household and buddies round. I simply did not just like the Hamptons.”
Hedgerow Unique Properties and Modlin Group Hamptons collectively represented the itemizing.
This 14,000 sq. foot house sits on 3.6 acres and is situated in considered one of East Hampton’s most prestigious areas, simply across the nook from Additional Lane, the place the property bought for $137 million in 2014, and steps from Maidstone Membership, The long-standing personal nation membership of town’s elite.
The house was first constructed within the 1900s and is a part of an 80-acre property owned by zinc producer Frank Wiborg, in keeping with Philistines in Hedgerow by Steven Gaines.
The principle home has eight bedrooms, and there may be additionally a two-bedroom cottage on the property. Contains 225 meters of ocean frontage.
Lee purchased the property in 2001 from Lee Radziwill for $16.2 million after information broke that Radziwill and Ross had been divorcing. Previous to that, Tenenbaum and Lee had truly rented the home for some time from the couple. After Tenenbaum advised her husband the information, “He purchased one thing that he did not even inform me about,” Tenenbaum mentioned. WSJ knowledge.
As the brand new house owners of the house, Tenenbaum and Lee deliberate to easily increase the house, however finally found that it had structural issues, so it wanted to be rebuilt. The Tenenbaums needed the house to be rebuilt because it was, however new additions embody a two-bedroom basement, playroom, laundry room and walk-in fridge.
The couple additionally added a tunnel that attaches the pool to a few of the cabanas on the decrease degree of the house, so that folks do not observe the sand immediately into the primary space of ​​the home.
“I at all times have household round and other people to help,” Tenenbaum mentioned WSJ knowledge.
He and Lee had three youngsters collectively, and Lee had two youngsters from a earlier marriage. Tenenbaum additionally defined that the couple had an open door coverage whereas within the Hamptons and had been at all times entertaining.
In 2013, there was {an electrical} fireplace within the basement, and the home suffered smoke and water injury consequently. It was essential to rebuild once more, the couple renovated, preserving the environment of the unique home. This time, they added a house theater and karaoke room on the decrease degree.
Tenenbaum returned to the Hamptons the summer time after her husband died, however has since determined to maneuver on.
“I am achieved with the Hamptons,” he mentioned WSJ knowledge. “Now it is my flip to go to Santa Fe or Malibu or Greece – I do not know – possibly I wish to be a little bit gypsy.”
Since her youngsters are nonetheless near the Hamptons, Tenenbaum mentioned she is going to most likely purchase a small home within the space.
Luxurious gross sales within the Hamptons rose 27.8 % between Q1 2023 and Q1 2024, in keeping with analysis agency Miller Samuel. As of the primary quarter of 2024, the median gross sales value has elevated by 24.7 % yearly.
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