A $25 Million Hamptons Home: Legal Drama and a New Start
A former New York socialite has listed her Bridgehampton estate for $25 million after a prolonged legal battle over an unpaid $3.5 million mortgage. The sprawling property sits on seven acres and was previously valued between $12 and $18 million. However, the lender purchased it at a Zoom auction for a mere $500 when the owner fell behind on payments.
Sale Conditions
- Deadline: The property must sell by August 25 or the owner will lose it to foreclosure and eviction.
- Payment: The buyer must pay the lender $5.5 million plus daily interest and penalties.
- Bankruptcy Clause: The lender can bypass bankruptcy protections if the owner files before the deadline.
The owner has no intention of fighting foreclosure and plans to recover the deed through a sale. Proceeds will cover the loan, penalties, and any other costs.
Legal History
- Past Litigation: Over the last five years, she faced 15 lawsuits in New York.
- Back‑Rent Judgment: A $1.8 million judgment for back rent on a Manhattan condo was later dismissed.
- Current Case: In Suffolk County Supreme Court, the case involves more than 1,000 pages of claims and counterclaims.
Property Highlights
- Size: 10,687 sq ft.
- Rooms: Six bedrooms, numerous bathrooms, multiple fireplaces, a theater, wine cellar, and office.
- Outdoor Amenities: Pool, spa, pool house, two pickleball courts, and a sports court.
- Setting: A pastoral retreat amid woodlands and manicured lawns.
Future Plans
The owner is ready to leave New York after the sale, but a judge has cautioned that settlement outcomes remain uncertain. Both parties will cover their own attorney fees, and a $15 million claim has been dropped as they move toward resolution.
