The Real Deal New York

Jeff Blau shaves $5M off price of Hamptons mansion

Related boss has swapped Saunders for Corcoran

March 11, 2016 12:18PM
By Katherine Clarke

Jeff Blau and his Bridgehampton mansion at 313 Dune Road

Jeff Blau and his Bridgehampton mansion at 313 Dune Road

Lloyd Blankfein isn’t the only moneyed Hamptonite having real estate troubles out east.

Related Companies CEO Jeff Blau has also slashed the price of his Bridgehampton mansion after it failed to sell after almost a year on the market.

The six-bedroom, six-bathroom mansion is now asking $27 million, a $5 million discount to the $32 million it was asking when it first hit the market last June. Blau has also switched brokers, swapping Terry Cohen of Saunders & Associates for Susan Breitenbach of the Corcoran Group.

Breitenbach didn’t immediately respond to a request for comment.

The real estate executive is likely eager to unload his former digs since he’s rumored to be in the midst of building a new compound comprising three separate homes in nearby Wainscott. He bought the two adjoining parcels of land in the hamlet for $25 million in 2013.

The Bridgehampton mansion, at 313 Dune Rd., sits on 1.5 acres and has views of Mecox Bay, a pool, a tennis court, a private beach walk and a media room.

Price cuts certainly seem to be the order of the day in the Hamptons after a year of rapidly rising prices. Last month, Blankfein shaved $4 million off the price of his Sagaponack manse, bringing it to $13 million.

Hamptons owners have dropped prices by at least 5 percent on 174 homes on the east end in the last 30 days, according to StreetEasy.

Meanwhile, Blau also has a new home in Manhattan. He and his wife Lisa sold their longtime co-op at 1040 Fifth Avenue for $30 million last year, swapping it for a $51 million townhouse at 113 East 70th Street once owned by fashion designer Reed Krakoff.