The Real Deal New York

Hirtenstein expands real estate holdings with contract for discounted Montauk estate

February 07, 2013 01:30PM

Tech and nightlife mogul Michael Hirtenstein is now in contract to purchase a four-acre plot on Montauk’s “millionaire row,” the New York Post reported. The deal reportedly ticks in at $13 million for the property that contains a 5,000-square-foot home and a 2,400-square-foot guest house.

Philanthropists Kenneth and Jeanne Levy Church, who were victims of the Bernie Madoff Ponzi scheme, owned the property. The purchase price is a significant discount from the 2007 asking price of $35 million, then cut to $25 million, then down to $19.9 million. The main house has four bedrooms, six bathrooms, a pool and 300 feet of oceanfront space.

Hirtenstein is also getting hooked up with $1 million worth of mid-century furniture pieces and a Crestron audio visual system.

In 2007, Hirtenstein sold his Time Warner Center penthouse for $27 million, as The Real Deal previously reported. [NYP, 2nd item] —Zachary Kussin

  • Jealous guy

    Time Warner ph over 10 m profit, gramercy park townhouse 5 m profit, craziest TriBeCa home worth over 50 m, oceanfront land in sagaponack worth a fortune and now a 35 m oceanfront house in hot hot hot montauk for 13 m? This guy is dope considering from the little I have read his real business is owning the hottest hospitality business in nyc. And he’s not even bad looking like all these other real estate moguls that look awful. I want to come back in my next life as this guy.

  • Ivan Cuevas

    I use to work for Michael Hirtenstein! And I will say this about him, that he is was a nice guy. He was the CEO for westcom and I worked for him. Good for you Michael. You`re a hell of a guy. Peace