Ron Perelman unloads East Hampton estate for $84M
Lily Pond Lane home is gone; The Creeks still on the market
Financially distressed billionaire Ron Perelman has continued his fire sale, unloading his Lily Pond Lane estate in East Hampton for the discounted price of $84 million.
According to Dirt, the home, which Perelman has not occupied for some time, was sold shortly after January 1 to an undisclosed buyer. It had been listed at $115 million last September.
The 11,435-square-foot estate on more than 9 acres of beachfront property dates to the early 1970s and features 10 bedrooms and 15 baths.
There is also a pool and pool house on the property along with other necessities of Hamptons life, such as a tennis court and pavilion, according to the publication, which also notes the property can be subdivided.
Perelman’s fortunes have been on the decline since the Covid-19 pandemic hit, as the stock price of his signature company Revlon, the cosmetics firm he famously acquired for $2.7 billion in a hostile takeover back in 1985, fell from $25 to $5.
Even though Forbes still lists his net worth at almost $3 billion, Perelman has been selling off assets to settle debts for the last few years, and the Long Island estate is his latest big sale. Other items he’s raised cash with include $350 million worth of artworks, including Alberto Giacometti’s “Grande femme I,” according to the website.
He’s also listed his Manhattan Upper East Side townhouse for $115 million in April, and is reportedly shopping his more famous Hamptons hideaway, The Creeks, an historic East Hampton estate on 57 acres, for $180 million.
Also on the market is Perelman’s famous 280-foot super yacht, the C2. That floating mansion contains 15 staterooms able to hold up to 31 guests, an outdoor cinema, a glass-bottom pool and a massage room.
[The Dirt] — Vince DiMiceli