Oceanfront Montauk home lists for $48M

A home sitting on 36 acres in Montauk hit the market for $48 million, Curbed reported. The owner, frame dealer Eli Wilner, bought the property with his wife in 1992 for $630,000. There were no building permits in place at the time, but they eventually got architect Frank Hollenbeck and the Men at Work Builders to erect the home. The land, which has 400 feet of ocean frontage, is a private preserve which would probably bar any further permits for new buildings. The home itself has five bedrooms, five bathrooms, four gas fireplaces, heated marble floors throughout, floor-to-ceiling windows, a movie theater and an elevator. Kathleen Coumou of Christie’s International Real Estate and Martha Gundersen of Brown Harris Stevens are handling the listing. [Curbed]