Friedrich’s $49M Southampton estate is in contract

July 30, 2012 02:30PM

After four years wavering between asking prices of $59.5 million and $49 million, a Southampton estate owned by Jurgen Friedrich, who is also asking $125,000 per month for a unit in The Plaza hotel, has finally entered contract, Curbed reported. The 10-acre property with an 18,000-square-foot home was listed both by Tim Davis and Felicitas Kohl of the Corcoran Group and Sotheby’s International Realty’s Harald Grant for $49 million, after a $10 million price cut in January. But since first being listed in June 2008, it has bounced between those asking prices several times.

Known as the Linden estate, the property at 160 Ox Pasture Road was bought by Friedrich, the former European CEO of Espirit, in 2002 for $8.5 million. According to Davis, he spent tens of millions of dollars upgrading it.

The home was originally built in 1915, according to the listing, and has 12 bedrooms, 12 full bathrooms, five half-bathrooms and eight fireplaces. It also features an indoor pool, an outdoor pool, a tennis court, a gym, a carriage house and a four-car garage.

Friedrich also owns the 5,087-square-foot Plaza hotel unit that’s on the rental market asking $125,000 per month — down from its initial $165,000 per month ask[Curbed]