Macklowe Gallery founders sell East Hampton home to Hard Rock founder

Peter Morton scooped up 51 West End Road for $35M

Lloyd and Barbara Macklowe and Hard Rock Cafe's Peter Morton with 51 West End Road
Lloyd and Barbara Macklowe and Hard Rock Cafe's Peter Morton with 51 West End Road (Getty, Google Maps)

Art power couple Lloyd and Barbara Macklowe finally found a buyer for their East Hampton estate after several price cuts.

Hard Rock Cafe co-founder Peter Morton purchased the property at 51 West End Road from the Macklowe Gallery founders for $35 million, the New York Post reported. Morton plans to unite the property with an adjacent home he already owns to create a five-acre expanse.

The sale was an adventure in discounts for Harry Macklowe’s brother and sister-in-law. They put the home on the market in November 2021 for $60 million, dropping the ask to $49.5 million in June. They cut the price once again in September, to $39.5 million.

The couple purchased the property in 1992 for $3.5 million, before pouring at least $12 million into renovations over the next three decades. Updates include wide-plank pine floors, a chef’s kitchen with a butler’s pantry, formal living and dining rooms, a den and a junior master suite on the ground floor.

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The 6,100-square-foot home, built by Roger Bullard in 1926, has five bedrooms, five bathrooms, two half-bathrooms and four wood-burning fireplaces. The estate includes a separate 800-square-foot garage, 170 feet of ocean frontage, a private stretch of Georgica Beach and access to Georgica Pond.

Douglas Elliman’s Kyle Rosko and Marcy Braun had the listing. Compass’ father-son duo of Ed and James Petrie represented the buyer.

Morton’s new abode is across the street from the home Harry purchased in 2017 for $10 million.

The 75-year-old Morton has been involved in a number of luxury real estate deals in recent years. In 2018, he agreed to sell his beachfront Malibu home for $110 million, making it the most expensive home sale in Los Angeles County at the time. Prior to that, Morton dropped $25.5 million on a pair of West Village condos in New York City.

In 2019, the Macklowes — who have passed the famed art gallery on to their son, Benjamin — sold a co-op at 900 Fifth Avenue for $5.4 million.

Holden Walter-Warner