Mickey Drexler, the chairman and former chief executive of J. Crew, has sold his oceanfront Wainscott home for just under $15 million, says the property's listing agent.
The house had been on and off the market since 2014, when it first listed with an asking price of $26.5 million. It re-listed in November for $21.5 million and was most recently asking $17.5 million.
The property was purchased by Drexler’s neighbors, says listing agent Paul Brennan of Douglas Elliman Real Estate.
“I think it was time for the owners to sell, and the buyers had wanted to buy it for quite some time and the price came to a point where it made sense,” Brennan says.
Asked what the buyers plan to do with the house and property, Brennan says, “I would think they are keeping it as is since it is a turnkey situation.”
Situated on 2.3 acres between the Atlantic Ocean and Wainscot Pond, the property offers 315 feet of beachfront. The 3,500-square-foot house, which Brennan says was designed by architect Thierry Despont, has three bedrooms, two full bathrooms and two half-baths. The main level of the house, featuring an open floor plan with double-height ceilings and picture windows, includes a living room, gourmet eat-in kitchen, den and media room. All three bedrooms are on the first floor of the upside-down house and each offers direct access to the outdoors.
The property also has a private boardwalk that leads through the dunes and to the beach.
“It’s the quintessential beach house,” Brennan says. “You can see the ocean and Wainscott Pond and farmland and dunes. It’s what the Hamptons are all about.”
In 2015, Drexler sold an oceanfront Montauk property that once belonged to Andy Warhol for $50 million.