Montauk has typically been the quieter area of the Hamptons due to its location on the very end of Long Island. That has started to change in recent years as people were priced out of other areas. Now finding anything reasonably priced in Montauk might be about to end as Andy Warhol’s old compound is put up for sale by J.Crew CEO Mickey Drexler for $85 Million.

A 30-acre property was originally developed by the Church family, the founders of the Arm & Hammer Baking Soda Company in the 1930’s. “The family enlisted architect Stanford White to build the seaside property, which at the time was designed to incorporate five classic clapboard houses, one of which would serve as the main lodge hosting seven bedrooms, five baths, four stone fireplaces and large living areas.”

Andy Warhol and Paul Morrissey, who directed several of the artist’s films, bought the property called Eothen for $225,000 in 1972. They hosted many notable people including The Rolling Stones, Catherine Deneuve, Halston, Peter Beard, and even Lee Radziwill and her sister Jackie Kennedy.

Mickey Drexler purchased the estate in 2007 for $27 Million after it had languished on the market for years.  He then hired architect Thierry Despont to renovate the main house and six surrounding cottages and other buildings which total nearly 15,000 square feet with nine bedrooms and 12 baths. You can see the entire listing on Elliman.

I just hope the deep pocketed new buyer doesn’t raze the compound to build an awful McMansion.

Bon weekend !