The ‘Dune Cottage’, which was once part of the historic Wiborg Estate and later owned by Lee Radziwill, has changed hands for $72 million.
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which → own → million
The sale of the 3.6-acre oceanfront compound in East Hampton closed in March this year, making it the largest known home sale in the Hamptons in 2026, Hamptons Coastal reported.
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Coastal → close → 2026
The estate at 43 East Dune Lane entered the market in 2024, with an asking price of $120 million.
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estate → enter → million
After sitting on the market for seven weeks, it received a $25 million discount, reflecting the pricing pressure faced even by trophy properties.
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it → sit → properties
Many prospective buyers approached, and the deal was closed for $72 million.
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deal → approach → million
Terry Cohen of Compass, along with Hedgerow Exclusive Properties and Chris Covert and Adam Modlin of Modlin Group Hamptons, represented the sellers.
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Cohen → represent → sellers
The buyer’s identity remains undisclosed.
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identity → remain → ?
The home at 43 East Dune Lane is a 3.6-acre oceanfront estate with 225 feet of direct Atlantic Ocean frontage and a rebuilt main residence.
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home → rebuild → frontage
Designed in 1910 by renowned architect Grosvenor Atterbury, the residence was commissioned as part of an 80-acre estate owned by Frank Wiborg, an ink-manufacturing magnate.
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residence → design → Wiborg
Nearby Wiborg's Beach is named after him.
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Beach → name → him
Sara Murphy, Wiborg's daughter, inherited the property later, and it became a central figure in the Jazz Age social scene.
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it → inherit → scene
She hosted many legendary gatherings attended by prominent artists and writers.
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She → host → artists
Later, in 1941, the mansion was demolished, as it became too expensive to maintain during wartime.
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it → demolish → wartime
The smaller ‘cottage’ survived, and in the late 1980s, socialite Lee Radziwill, sister of Jacqueline Kennedy Onassis, and her then-husband, Herbert Ross, bought the property for $6.2 million.
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Radziwill → survive → million
In 1999, the property grabbed national attention after comedian Jerry Seinfeld signed a $19 million contract to purchase it.
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Seinfeld → grab → it
But the deal never went through, as Radziwill and Ross backed out at the last moment.
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Radziwill → go → moment
This decision came at a huge cost.
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decision → come → cost
In 2001, Ann Tenenbaum and her husband, Thomas H. Lee, acquired the estate for $16.2 million.
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Tenenbaum → acquire → million
Tenenbaum, a venture-capital investor and philanthropist, and private-equity titan Lee gave the cottage a substantial renovation after buying it.
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Tenenbaum → give → it
The home underwent another meticulous reconstruction following a destructive fire in 2013.
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home → undergo → 2013
The 2016 rebuild transformed the 11,000-square-foot main residence while still honouring Atterbury's original 1910 design aesthetic.
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rebuild → transform → aesthetic
Pic credit: Hamptons Covert
The couple lived in the Hamptons for 20 years.
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couple → live → years
After Lee's death in 2023, Tenenbaum wanted to sell it.
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Tenenbaum → want → it
Talking to the Wall Street Journal, Tenenbaum said she wanted to put her Hamptons days behind her.
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she → talk → her
I loved having family and friends around.
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I → have → family
I just didn’t love the Hamptons,” she told the outlet.
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she → love → outlet
She added, “I’m done with the Hamptons.
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I → add → Hamptons
Now it’s my time to go be in Santa Fe or Malibu or Greece.
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it → ’ → Fe
I don’t know… maybe I want to be a gypsy for a little bit.”
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I → know → bit
What the buyer gets
Pic credit: Hamptons Covert
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gets → get → What
The main house covers more than 11,000 square feet, with eight bedrooms, 10 baths, and two half baths.
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house → cover → bedrooms
Recrafted by master builder Ben Krupinski with tasteful additions to key living areas, the Hamptons home also has a detached two-bedroom guest cottage, a heated oceanside pool, and a tennis court distributed across 225 feet of direct Atlantic frontage.
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home → recrafte → frontage
There is a tunnel running from the pool to the lower level, which was engineered to prevent sand from entering living spaces.
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which → be → spaces
The full lower level houses a screening room, gym, wellness centre, and private grotto.
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level → house → room
The main living room, 15 feet high, opens to oceanside terracing overlooking the Atlantic.
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room → open → Atlantic
Pic credit: Hamptons Covert
Dune Cottage hit the market for $120 million, assuming buyers would pay premium multiples for oceanfront acreage, historical provenance, and a complete modern rebuild.
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buyers → hit → acreage
But the market didn't quite go with it.
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market → go → it
It was sold for $72 million, which is a 40 per cent reduction, one of the steeper discounts in Hamptons ultra-luxury sales.
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which → sell → sales
The property sat for weeks before the price dropped to $95 million, then dropped again when a buyer finally materialised at $72 million.
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buyer → sit → million
According to the listing agents, that’s still a “once-in-a-lifetime opportunity to own one of the most exceptional and historically significant properties in the Hamptons.”
uncertain
that → accord → Hamptons
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