Howard Lorber lists Hamptons spread for $18.5M: PHOTOS

Meanwhile, son Michael Lorber sells Midtown East condo
By David Jones | October 30, 2013 03:58PM

UPDATED, 5:46 p.m., Oct. 30: Douglas Elliman chairman Howard Lorber has put his seven-bedroom Southampton Village mansion on the market for $18.5 million, The Real Deal has learned.

Lorber listed the 11,560-square-foot gated estate, which he built from the ground up in 2003, earlier this month with Elliman’s Erica Grossman and Michaela Keszler, StreetEasy shows.

“My kids are all grown, and I wanted to downsize,” Lorber said.

Indeed, Lorber’s son recently sold his own apartment in Midtown East, sources confirmed. Michael Lorber, a broker at Elliman and ex-star of “Million Dollar Listing New York,” sold the three-bedroom nine days ago, though no closing price was available, StreetEasy shows.

He had listed the 1,861-square-foot apartment, at the Grand Beekman at 400 East 51st Street, for $2.79 million in April, as The Real Deal reported.

Michael, who was not immediately available for comment, originally bought the condominium in 2004 for $1.73 million.

Papa Lorber’s home, at 439 Halsey Neck Lane, boasts a large first-floor master bedroom, 13 full baths, a handcrafted game room, and a gym with a sauna and steam room, the listing says. The two-acre site also includes a heated gunite pool, tennis court, putting green and outdoor kitchen.

Lorber’s decision to sell comes on the heels of several other high-profile deals on the East End, including Nine West founder Vince Camuto’s contract for the historic Gin Lane oceanfront estate that he listed in July for $48 million with Corcoran Group brokers Tim Davis and Peter Huffine. The shoe guru is listing another home in Water Mill for $49.5 million.

About a month ago, supermodel Christie Brinkley reportedly sold her beachfront home in the village of North Haven to Stuart Hersch, the president of Cantor Fitzgerald, for $10 million. The 2.6-acre property at 6 Fahys Road had been listed for $8.9 million with Saunders & Associates.

Overall, the Hamptons market has seen a stable last few months, with some 534 homes sales closing in the third quarter of 2013, a 31.9 percent increase over the same period a year ago, but a 20.9 percent drop from the previous quarter, according to data from Elliman. The median sale price in the third quarter was $768,000, a barely noticeable 0.4 percent increase from $765,000 last year, the Elliman report says.

Grossman confirmed that she and Keszler had the listing but declined to comment further.