The seller of the home once owned by Lee Radziwill is Ann Tenenbaum, venture capital-investor and widow of late private-equity pioneer Thomas H. Lee. The couple rebuilt the property twice.
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A vast oceanfront estate once owned by the younger sister of Jacqueline Kennedy Onassis, Lee Radziwill, and her then-husband actor Herbert Ross, has hit the market for $120 million.
The seller is Ann Tenenbaum, a venture capital-investor and widow of the late financier and private-equity pioneer Thomas H. Lee. The couple spent summers in the house for more than 20 years with their children and ended up rebuilding the property twice during that time.
In the wake of Lee’s passing last year, Tenenbaum has decided to sell since she always preferred the desert to the beach, she told The Wall Street Journal.
“It was very much his place,” Tenenbaum told The WSJ. “I loved having family and friends around. I just didn’t love the Hamptons.”
Hedgerow Exclusive Properties and Modlin Group Hamptons are co-representing the listing.
The 14,000-square-foot home sits on about 3.6 acres and is situated in one of East Hampton’s ritziest areas, around the corner from Further Lane, where a property sold for $137 million in 2014, and a few paces from The Maidstone Club, a longstanding private country club for the city’s elite.
The home was initially built in the 1900s and part of an 80-acre estate owned by ink manufacturer Frank Wiborg, according to Philistines at the Hedgerow by Steven Gaines.
The main house includes eight bedrooms, and there is also a two-bedroom guesthouse on the property. It includes 225 feet of ocean frontage.
Lee purchased the property in 2001 from Lee Radziwill for $16.2 million after news broke that Radziwill and Ross were divorcing. Prior to that, Tenenbaum…