Collector Adam Lindemann to Buy Andy Warhol’s Montauk Estate
Warhol purchased the property along with Paul Morrissey in 1972.
Gallerist and art collector Adam Lindemann is in contract to purchase an estate in Montauk, New York that once belonged to Andy Warhol, according to the New York Post. The seller is J. Crew CEO Mickey Drexler, who purchased the 5.7-acre property for $27 million in 2007 and combined it with a 24-acre horse farm; he’s listing the entire compound for $85 million.
But like a savvy collector, Lindemann is only interested in purchasing the six-cottage, oceanfront former Warhol estate, known as Eothen (“from the East”). The property also includes several Carl Fisher-designed barns, a swimming pool, and a tennis court.
“I knew Andy in the early 1980s as a very young man, and I’m a collector of his work, ” Lindemann said. “I’m very lucky to have this opportunity to live out this dream. It’s a work of art.”
Warhol wasn’t the only famous face to occupy the property. The artist purchased it with friend and collaborator Paul Morrissey in 1972 for just $225,000, and the pair often hosted prominent pals like actress Elizabeth Taylor, Rolling Stones frontman Mick Jagger, guitarist Keith Richards, actress Liza Minnelli, artist Julian Schnabel, fashion designer Halston, and Beatles frontman John Lennon.
In 2006, the year before Drexler scooped up the estate, The New York Times published a feature on it titled “The Unsold Warhol,” which recounted the trouble Morrissey and a revolving door of real estate agents had in selling the place. The Post reports that the current listing brokers are Edward Petrie with Sotheby’s International and Paul Brennan of Douglas Elliman.
Unsurprisingly, Warhol himself wasn’t much of a beachgoer; he purchased the home mostly as an investment.
“I just remember [Warhol] liking it immediately and buying it—boom, like that,” Tina Fredericks, the broker who originally sold the property to Warhol and Morrissey, told the Times. But Warhol didn’t visit often, she said. “He had a lot of problems with the wind, which took his hairpiece off.”
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