Record-Breaking Sale: Inside The $145 Million Hamptons Estate

In the Hamptons, a single acre of undeveloped land nowhere near the ocean will cost you about a million dollars. So, as you might imagine, 42 perfectly-manicured oceanfront acres with a quarter mile of beach – more than any other estate on Long Island – wasn’t going to be cheap. The estate we’re describing, which was once home to Henry Ford II, just sold for $145 million.

When it was originally listed in 2017, the $175 million asking price was around $30 million more than any home the Hamptons had ever fetched. By our tracking, $145 million is the second-most expensive sale in Hamptons history and fifth most in US history. This luxurious property boasts the largest privately-owned unobstructed ocean frontage on Long Island, featuring amenities like basketball courts, tennis courts, a greenhouse, a pool, a hot tub, and a sprawling 20,000 square-foot main house.

The property has a rich history connected to one of the greatest fortunes in American history. Contrary to what you might assume, Henry Ford II, also known as “Hank the Deuce” (though not to his face), was actually Henry Ford I’s grandson, not his son. Born in 1917 to Eleanor and Edsel Ford, Edsel was Henry Ford’s only child. The estate represents a fascinating journey through time, wealth, and family legacy.

Biography of Henry Ford II

Henry Ford II married Anne McDonnell in 1940, and together they had three children. Anne was a socialite who grew up in Southampton, which likely influenced their decision to acquire 235 acres of oceanfront real estate in the late 1950s. They began constructing what would become a grand mansion, ultimately completing it by 1960, naming their estate Fordune.

Fordune was built with no expense spared; they imported fine Italian marble, antique hardware from a European chateau, and commissioned intricate ceiling decorations that are still part of the home today. Unfortunately, the couple's happiness was short-lived, as Anne filed for divorce in 1964, and in an ironic twist, she was awarded Fordune in the settlement.

The Evolution of Fordune

After acquiring the estate, Anne oversaw a subdivision of the original 235 acres into several properties and donated portions of land to a preservation society, ensuring that Fordune would never have close neighbors. In 1978, she sold the estate to Italian financier Carlo Traglio for $1.8 million. Adjusted for inflation, that's “only” $7 million today, which might only buy you a small mansion with limited ocean views.

In 2002, Traglio sold the property to financier Brenda Earl for $21.75 million. Brenda earned her fortune as a partner in the private equity firm Zweig-DiMenna, where she was instrumental in growing its assets from $15 million to a peak of $8 billion. She undertook a major renovation in 2008, expanding the estate's square footage from 16,000 to 20,000.

Brenda originally listed the property for $175 million in 2017, which would have set a record for Hamptons real estate by about $30 million. However, the sale price of $145 million now stands as the second-most expensive in Hamptons history and the fifth in US history. The record remains with hedge fund manager Barry Rosenstein, who paid $147 million in May 2014 for an oceanfront estate in East Hampton.

Future of the Estate

Currently, the identity of the new owner remains a mystery, although it is said to be someone from an “American real estate family.” As the legacy of this estate continues to unfold, it serves as a testament to both the historical significance and the enormous financial stakes of real estate in the Hamptons.

We will keep you updated on any developments regarding the new owner and their plans for this magnificent property!