General News

Warhol's house on sale for $50 million

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Jul 08, 2001 | 9:08am EDT

Artist Andy Warhol, who died in 1987, would have loved to see this. His totally private oceanfront estate on Long Island's east end, which he dubbed "Eothen"--Greek for "toward the east," is on the market for a whooping $50 million.

"There's been a lot of buzz, you know? We're hoping the right person will come along and appreciate it" real estate broker Lee Mineland told The Associated Press. Mineland works for Allan M. Schneider Associates, who listed property.

The house, which saw several famous guests including Mick Jagger and Jacqueline Onassis, was put up for sale by the independent filmmaker Paul Morrissey. Morrissey collaborated with Warhol on several movies, and the pair originally purchased the 5.7-acre Montauk estate for $220,000 in the 1970s.

The main house includes seven bedrooms, four and half baths and four fireplaces. There are four additional houses spread across the property. The other plus is that the estate is surrounded by 122 acres of undeveloped land--something unheard of in the Hamptons, according to Mineland.

If the house sells at that price, it would be a record sale and would rival the recent $32 million that Jerry Seinfeld paid for Billy Joel's East Hampton spread.

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