Manheim estate in East Hampton goes into contract for $24.5M

An East Hampton Village estate that has been “on and off the market for nearly a decade” has gone into contract for $24.5 million, 27east reported. The 3.55-acre property includes a “French-style château” built for late art collector and former Lehman Brothers partner Paul Manheim in the 1960s, but the listing indicates that it would be a teardown, as it shows “acres of green lawn, or a rendering of a new residence with pool and tennis,” according to the outlet. The property also includes an 800-square-foot cottage. Bespoke Real Estate is representing Manheim’s estate in the sale, and The Petrie Team at Compass is representing the unidentified buyer. [27east]