Billionaire art collector drops price of Montauk estate to $15.5M

Billionaire art collector drops price of Montauk estate to $15.5M

May 29, 2020

Photo by Jake Rajs

Billionaire investor, art collector, and gallery owner Adam Lindemann has dropped the price of his Montauk mansion to $15.5 million. He originally listed the sprawling property in 2015 for $29.5 million. Earlier that same year, Lindemann bought another nearby property that had once belonged to Andy Warhol and was listed for $85 million. His “smaller” estate is a 7,500-square-foot, traditional wood-shingled estate that sits atop the Montauk bluffs. In addition to its incredible shoreline views and three-acre lot, the home was renovated by architect David Adjaye. The interiors are fabulous, and the grounds boast a large heated pool and jacuzzi, several covered and uncovered patios, and a private staircase leading down to a secluded cove. Adding to the selling points is that it’s available fully furnished, including some of the high-end contemporary art.

The home was built in 2004. After Lindemann bought it in 2008, he brought on famed architect Sir David Adjaye to oversee a complete renovation that included interior design by Bob Melet. It now features six bedrooms, eight-and-a-half bathrooms, and a “rustic-chic” vibe. Throughout the home are warm walnut walls and ceilings reminiscent of a traditional Hamptons home mixed with contemporary flourishes.

Photos by Evan Joseph

A modern, double-sided fireplace separates the living and dining areas, both of which benefit from a full wall of floor-to-ceiling windows and French doors.

Photo by Evan Joseph

A wood-paneled library also has French doors that lead to the patio. There are tons of built-ins and wall panels to conceal the television.

Photo by Evan Joseph

The Kitchen features poured concrete countertops and stainless steel appliances and cabinetry that lend an industrial touch. There’s a six-burner Viking stove, three sinks, double ovens, and enough room for a 10-seat dining table.

Photos by Evan Joseph

The six bedrooms all boast incredible views and their own beachy vibes.

Top photo by Evan Joseph; Bottom photo by Jake Rajs

The second-level holds the master bedroom wing, which includes a spa-like bathroom bathed in Ipe Brazilian wood and features double vanities, a soaking tub, and a fireplace.

Photos by Jake Rajs

The fact that Lindemann moved to Montauk is no surprise; in fact, he is a Warhol collector himself. To put into perspective just how significant he is in the art world, he has set career records for Jeff Koons, Takashi Murakami, and Jean-Michel Basquiat. Two of the major art pieces on the grounds are Urs Fischer‘s “Lamp/Bear,” a 25-foot bright yellow teddy bear sculpture, and Franz West’s “The Ego and the Id,” both seen above. Most of the artwork is centered around the 22-by-40-foot gunite pool and Jacuzzi.

The massive wooden installation on the deck is an art piece itself. Titled “Sunrise,” it beautifully frames the views.

There’s a sheltered area for a dining table, as well, set in front of a large hedge and native-looking plantings. All fo the landscaping was designed by Miranda Brooks. There’s also a private staircase on the edge of the bluff that leads down to a protected cove, which as the listing says, “lends itself to intimate picnics, fishing, and surfing.”

Other perks of the home include a two-car garage with a hydraulic lift and a finished basement that has a billiards room with a vintage bar, a home theater, playroom/staff quarters, and a wine cellar.

Photo by Bruno Schreck

Lindemann is also currently selling Eothen, Andy Warhol’s former Montauk compound and equestrian estate.

[Listing: 406 Old Montauk Highway by Lori Schiaffino of Compass]


Interior photos by Evan Joseph; Aerial photo by Bruno Schreck; All others by Jake Rajs

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