Bespoke Real Estate
Ron Lauder, an heir to the Estée Lauder fortune, closed on the off-market sale of his 30-acre Wainscott estate for $56 million — less than the $66 million he paid for it just three years ago, The Post has learned.
The transaction, which closed on Wednesday, isn’t the typical Hamptons deal.
Instead of passing the land to another billionaire eyeing a luxury compound, Lauder sold the property to the town of East Hampton.
The town, using its Community Preservation Fund, plans to protect the land from development and preserve it as open space.
This marks the most expensive purchase in the preservation fund’s history, which dates back to 1998.
Officials hailed the move as a win for conservation and water quality.
“These types of acquisitions are important to the preservation of the beautiful landscapes that make the Hamptons the iconic destination that it is,” Cody Vichinsky, founding partner of Bespoke Real Estate, which brokered the deal for both sides, told The Post. “We are grateful to be able to facilitate transactions like this ensuring that these landscapes are preserved in perpetuity for future generations to enjoy.”
The preservation fund, which collects 2% of revenue from property sales, has grown substantially in recent years, thanks to the pandemic real estate boom. The acquisition includes a third of the shoreline of Wainscott Pond, a water body designated as impaired by the state due to harmful algae blooms that threaten its ecosystem.
Now under the town’s ownership, plans are in motion to assess the pond and implement measures such as upgraded sanitation systems, stormwater controls and buffer zones to curb pollution.
The estate features a 6,000-square-foot main residence with four bedrooms, a guest and pool house, tennis and pickleball courts, a heated gunite pool and a detached garage. The grounds include meadows, woodlands, and panoramic views of both Wainscott Pond and the Atlantic.
Lauder’s decision to sell is in line with his broader commitment to preservation. When he purchased the property in 2021, it was with the intention of halting potential development.
Last year, Lauder also unloaded the Rockefeller Guest House in Manhattan for just under $20 million in an off-market deal.