The sprawling Hamptons estate of the late designer Vince Camuto sold for over $49 million — less than half the onetime asking price of $100 million.
The property, in Water Mill, New York was most recently listed for $72 million, a discount from the nine-figure price in 2008. The estate was listed on and off over the years, at $49.5 million in 2013 and $67 million in 2015.
Two buyers ultimately coughed up $49 million for pieces of the property, reported the Wall Street Journal. One paid $36 million for the house and 11 acres of land. Another paid $13 million for additional parcels attached to the property.
Known as Villa Maria, the 20,000-square-foot mansion, has 11 bedrooms and features heated limestone terraces, a library with a domed atrium, a pool, tennis court and two-bedroom guest house.
Camuto and his wife and business partner, Louise, purchased the house for $35 million in 2005. The 1887 property was previously owned by the Sisters of the Order of St. Dominic of Amityville, who’d owned it since 1931. The couple spent five years renovating the house. Camuto died in 2015. [WSJ] — E.B. Solomont