After $6M price cut, Oleg Cassini’s Oyster Bay estate in contract

Amid foreclosure proceedings in Manhattan, an enormous suburban mansion owned by the late fashion designer has found a buyer

TRD TRI-STATE /
Jul.July 01, 2019 12:00 PM

Oleg Cassini’s nearly 44-acre home at 313 McCouns Lane in Oyster Bay

In the same month that foreclosure proceedings began on Oleg Cassini’s Upper East Side townhouse, the former Long Island home of the late fashion designer has gone to contract after its price was cut down to $13.5 million.

The 43.5-acre estate owned by Cassini at 313 McCouns Lane in Oyster Bay hit the market a year ago asking $19.5 million. Cassini, who died in 2006 at 92, was the grandson of a Russian-Italian count and rose to prominence as a dressmaker for former First Lady Jacqueline Kennedy Onassis, whose own compound on Martha’s Vineyard is now for sale at $65 million.

Oleg Cassini in 1955 (Wikimedia Commons)

In late June, the contents of Cassini’s Italian Renaissance style-mansion, known as Moorelands, came up for public auction as part of a process that will see his $60 million estate liquidated by Manhattan-based Doyle Auctioneers and Appraisers, Newsday reported.

Available items include artwork, furniture, hundreds of luxury cars and letters from both Kennedy and the actress Grace Kelly (to whom he was once engaged), according to the outlet, which noted that the Oyster Bay property itself had its price reduced to $13.5 million in May before going to contract. The identity of the buyer is not yet known.

The sale of the three-story Oyster Bay home, which was built in 1915 and has 14 bedrooms, eight-and-a-half bathrooms and eight fireplaces, is being handled by Philip Laffey of Laffey Real Estate. (The firm is separate from Laffey Fine Homes International, an outfit led by Laffey’s brother that last year joined Berkshire Hathaway HomeServices of America.)

Cassini’s Oyster Bay estate also includes a pool, tennis court, two barns and a carriage house with four apartments. The potential sale of the property comes as Lynx Asset Services, a lending company in Florida, has started foreclosure proceedings on a townhouse at 15 East 63rd Street from which Cassini previously ran his fashion businesses.

In July 2018, Lynx sent Cassini’s widow a notice of default on a $9.5 million mortgage for the townhouse, which earlier this year had an asking price pegged at $50 million. [Newsday] — Aidan Gardiner


Related Articles

arrow_forward_ios
(Courtesy of William Pitt/Sotheby's)

Stamford estate with full-size hockey rink asks $7.7M

Stamford estate with full-size hockey rink asks $7.7M
26 Windmill Lane (Credit: Douglas Elliman)

Hamptons compound sells for $45M in area’s biggest sale of the year

Hamptons compound sells for $45M in area’s biggest sale of the year
Ken Griffin and Calvin Klein’s Hamptons compound (Credit: Getty Images, Google Maps)

Ken Griffin in contract for Calvin Klein’s Hamptons compound

Ken Griffin in contract for Calvin Klein’s Hamptons compound
Some asks die hard — Bruce Willis again chops price for Westchester estate

Some asks die hard — Bruce Willis again chops price for Westchester estate

Some asks die hard — Bruce Willis again chops price for Westchester estate
Kyrie Irving (left) and Kevin Durant look on from the bench during a USA men’s basketball game against China on Aug. 6, 2016, during the Summer Olympics in Rio de Janeiro. (Andrej Isakovic/AFP/Getty Images)

Tri-State house hunting: NBA star edition

Tri-State house hunting: NBA star edition
32 Windmill Lane in East Hampton

All aboard! Former rail tycoon’s Hamptons estate pulls in $60M ask

All aboard! Former rail tycoon’s Hamptons estate pulls in $60M ask
Median sales price across residential assets in Fairfield County - Douglas Elliman

At midyear, a modest contraction in Fairfield County’s resi market

At midyear, a modest contraction in Fairfield County’s resi market
The Apaquogue in East Hampton

For the first time in a century, this East Hampton home is on the market

For the first time in a century, this East Hampton home is on the market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...