BID IT ADIEU
LA DUNE — once the most expensive estate in the Hamptons, asking $150 million before entering bankruptcy — sold for $79 million at a lengthy auction on Wednesday at Sotheby’s in New York. A single buyer got 376 Gin Lane for $40.5 million and 366 Gin Lane for $38.5 million, both of which belonged to the former art publisher Louise Blouin (right). She and her former husband bought the property for $13.5 million in the 1990s. The sale is ultimately $88.48 million all in — a 12% buyer’s premium goes to the auctioneers and the real estate brokers who marketed it. Even before the sale began at 4 p.m., there were seven verified bids with a minimum asking price of $66 million, said Chad Roffers, CEO of Concierge Auctions, which is owned by Sotheby’s. The sell-off broke for negotiations around 5:20 p.m. By around 7:20, the crowd of around 75 people had thinned. Even at 8:45, they were still negotiating. The issue was that the lender, Bay Point, had to approve the auction sale, which ended up being less than an earlier $90 million offer for the compound that the seller refused, thinking she could get far more, sources told Gimme Shelter. The sale still has to be approved by a bankruptcy judge in mid-February. Jenny Fleiss, co-founder of Rent the Runway, and financier Chris Brown also made inperson bids before dropping out. Concierge Auctions partnered with co-brokers Harald Grant of Sotheby’s International Realty, Corcoran’s Tim Davis and Bespoke’s Cody Vichinsky in the sale. “It took some time but we got it done,” Roffers said after the sale.