Shoe giant Vince Camuto inks deal for $48M Hamptons estate

And lists his Water Mill property for $49.5M

Oct.October 04, 2013 02:39 PM

Vince Camuto, the founder of Nine West, has found a buyer for a Southampton estate he listed for $48 million, the same week the shoe mogul put his nearby home in Water Hill on the market for $49.5 million. 

Tim Davis of the Corcoran Group, who is listing both properties with colleague Peter Huffine, told The Real Deal that the Southampton home is in contract, but declined to specify the buyer or sale price, citing a confidentiality agreement. The estate was listed in mid-July for $48 million.

Meanwhile, Camuto listed his 20,000-square-foot estate in Water Mill for $49.5 million, as the Wall Street Journal reported.

If either property garners its asking price, it would be one of the most expensive Hamptons residences ever sold.

In Southampton, the seven-bedroom, 7.5-bath, 10,000-square-foot home includes a pool, pool house, garden, green house and tennis court. Camuto has owned the home for more than 30 years.

The Tudor-style house sits on more than five acres of land with 472 feet of oceanfront.

The manor was built in 1930 as the pool house for the summer estate of Jessie Woolworth Donahue, the daughter of Woolworth founder F.W. Woolworth. It was later owned by Edmund Lynch, the co-founder of Merrill Lynch.

In Water Mill, the Villa Maria estate was built in 1887 and sits on 7.6 acres on Mecox Bay. It includes a triple-story spiral staircase, a 1,682-square-foot grand salon with a floor-to-ceiling fireplace, and a library.

Camuto reportedly purchased the home in 2005 for $35 million from the Sisters of the Order of St. Dominic of Amityville, which had owned it since 1931. Camuto spent five years renovating the home with architect Andre Tchelistcheff.

Camuto told the Journal that he is looking at another similar project in the Hamptons. “Another opportunity has become available on a slightly smaller scale which we are excited about.”

Camuto started out his career as a shoe designer but first made his name by co-founding Nine West. He recently partnered with Tory Burch and Jessica Simpson’s fashion lines.

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