Fashion designer Ralph Lauren is in contract to buy an oceanfront home in Montauk.
The property at 320 Old Montauk Highway belonged to late playwright Edward Albee, the Wall Street Journal reported. Lauren already owns homes on both sides of the property.
Douglas Elliman’s Paul Brennan had the listing. The property was asking $20 million.
The property spans nearly three acres — and includes 2,100-square-foot main house, a guesthouse and a pool house. It also has a tennis court and a pool.
Lauren has owned the larger property directly to the east since at least the 1990s, the report said.
Albee bought his Montauk property in the 1960s, after the success of his play “Who’s Afraid of Virginia Woolf?” He lived there part time until his death in 2016. Jakob Holder, executive director of the Edward F. Albee Foundation, declined to comment. [WSJ] — Meenal Vamburkar