Ann Tenenbaum, a venture-capital investor and philanthropist, has decided to sell her luxurious East Hampton estate for $120 million. This move comes after the passing of her husband, private-equity legend Thomas H. Lee, last year. The property is now the most expensive one for sale in the East End.
The couple’s oceanfront property, situated near the exclusive Further Lane, spans about 3.6 acres. It features a main house with eight bedrooms, a two-bedroom guest cottage, a pool, and a tennis court. With its grand 225 feet of direct ocean frontage, the property offers unparalleled views and luxury.
Interestingly, the mansion underwent two major rebuilds during their ownership. After purchasing it for $16.2 million from socialite Lee Radziwill in 2001, they embarked on significant renovations. However, a devastating fire in 2013 led them to start over completely. Fortunately, no one was hurt in the incident.
One of the standout features of the home is a tunnel that connects the heated pool to the lower level, ensuring that no sand from the beach finds its way into the pristine living areas. Tenenbaum drew inspiration for this unique setup from a similar arrangement she encountered in Positano, Italy.
Despite the grand rebuilds and frequent entertaining, Tenenbaum never felt truly at home in the Hamptons. She expressed her desire to explore other places like Santa Fe, Malibu, or Greece. She even mentioned the possibility of becoming a gypsy for a while. However, she does acknowledge that her children are still drawn to the Hamptons and might consider getting a smaller place in the area.
The Tenenbaum-Lee estate holds a rich history as it was originally part of ink magnate Frank Wiborg’s expansive 80-acre oceanfront property. The couple aimed to preserve its historic charm while adding their personal touch during the meticulous restoration process. Tenenbaum emphasized her preference for authentic homes over ostentatious McMansions.
The property offers an array of amenities, including a full lower level with a screening room, a gym, a wellness center, and a private grotto leading to an oceanside heated pool nestled in the dunes. It provides the perfect setting for relaxation and entertainment.
Hedgerow Exclusive Properties and Adam Modlin’s Modlin Group are handling the listing, signaling the exclusivity and high-demand status of this extraordinary estate.
