Education entrepreneur relists East Hampton estate for $95M

Chris Whittle facing forced auction to repay debts to former company

Chris Whittle and his East Hampton estate (Photos via Trulia and Meridian)
Chris Whittle and his East Hampton estate (Photos via Trulia and Meridian)

The founder of Avenues: The World School has relisted his 11.2-acre East Hampton estate with a major price cut as he faces a potential forced auction to repay debts to his former company, according to the Wall Street Journal.

Chris Whittle, who left the posh private school company in 2018, is now asking $95 million for the property. It hit the market in 2014 for $140 million, but has been off the market for a few years.

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Avenues Global Holdings, the company that owns the private schools Whittle founded, said last year that he hasn’t repaid millions of dollars it lent him in 2013.

A spokesperson said that Whittle owes the company $6.7 million and hasn’t made a payment since 2019. The spokesperson also said the Suffolk County Sheriff’s office would publish an auction notice soon. Such a sale could take place as soon as April unless Whittle repays his debts. [WSJ] — Dennis Lynch