Just weeks after selling a luxury condo in New York’s iconic Soho neighborhood for $3.65 million, Bethenny Frankel has shed a home in Bridgehampton, N.Y., for $2.28 million. Unfortunately for her, after renovation expenses and real estate fees, the sale price of the immaculately refurbished Hamptons property means the veteran reality TV star and entrepreneur would’ve been lucky to break even on the low-key estate she bought in 2017 for $2.1 million. Built in the late 1900s and once operated as the Morning Glory House bed and breakfast, the more than 4,200-square-foot, cedar-shingled farmhouse contains seven bedrooms and 5.5 bathrooms. It also features a charming wraparound front porch and a bluestone patio surrounding the heated swimming pool. The recently sold property is currently available to rent from Memorial Day through the third week of June at a rate of $25,000.
As for her now-former Soho residence, Frankel purchased that almost 2,400-square-foot former loft five years ago for a princely $4.2 million. Two years and a costly custom overhaul later, the two-bedroom and 2.5 bath unit popped up for sale amid a deluge of publicity with an optimistic $5.25 million price tag. The price dropped gradually to $3.995 million before it was sold late last year for $3.65 million, a painful loss of almost half a million bucks not counting renovation costs and real estate fees.
Dabbling in the real estate market must be like playing Monopoly for the multi-hyphenate entrepreneur who created the wildly successful Skinnygirl brand and sold the cocktail line to Fortune Brands’ Beam Global (now a part of Suntory) for an estimated $100 million. Frankel’s current holdings now include a 4,000 sq. ft. loft in Soho — featured in a 2018 issue of Architectural Digest — as well as another home in Bridgehampton, a two-residence compound purchased for total of $2.65 million in a pair of contiguous December 2013 transactions. In addition to her Manhattan and Hamptons homes, Frankel recently acquired a home in Boston’s exclusive Back Bay neighborhood with her film producer boyfriend Paul Bernon.