A portion of Andy Warhol's estate has finally been sold to the personage of a certain Adam Lindeman. He purchased not the whole 20-acre, but just a portion of it. An area wide of 5.7 acre for the price of $50 million. According to Elle Décor, his purchase includes the main house and some of the estates cottages.
From Warhol's possession, the property became a Mickey Drexler possession, CEO of J. Crew. It was bought by him before for a price of $27 million back in 2007. Drexler renovated it to suit his style, with addition of six cottages and barns that have been restored, which was originally built by Carl Fisher back in the 1920's.
The now owner of part of the estate was a big fan of Warhol's. He was in fact a collector of some of his artworks and the owner for the Venus Over Manhattan Gallery. Now, he owns a part of his estate. This transaction is considered a victory since it took more than six months before a purchase was finally made after the first listing last year in June. The original price back then was a full $85 million. This purchase though still leave Warhol a good, approximately 24 acre remaining estate that serves as a place for the horses to roam.
It was said that in this Montauk, New York residence is where Warhol would visit with some of his celebrity friends in order to escape the busyness of the city life. Some of those celebrity high profile friends would include, Jacqueline Kennedy Onasis and the Rolling Stones, Mick Jagger, Elizabeth Taylor, John Lennon.
According to The Real Deal, this sale of Warhol's estate is the most expensive home, ever sold in the Montauk area. Its first listing price of $85 was even priced almost as much as the most expensive artwork Warhol ever sold.
