Billionaire Ronald Perelman Wants $115 Million for Oceanfront Hamptons Estate

Last autumn was the season of whisper listings for billionaire businessman Ronald O. Perelman. First, there was his townhouse on East 63rd Street, asking $65 million, which was also quietly available with a connected house for $75 million. Then there were reports that Perelman was looking to unload The Creeks, his legendary East Hampton estate, often called the most important house in the Hamptons, which was supposedly available for $180 million — provided you knew the right Hamptons broker to call.

But this is 2021, and Perelman is no longer whispering. He’s sold off a number of assets, including jets, yachts, and art. The 63rd Street townhouse is on the market for $60 million, and while The Creeks is not officially listed, another Hamptons property owned by Perelman is on the market.

Perelman’s property on East Hampton’s Lily Pond Lane has just been officially listed on the open market at $115 million. Perelman paid just $3.75 million for the plum property back in 1994. Listed by Sotheby’s International Realty superagent Harald Grant, the estate is very large for the area at 9.25 acres, which includes 385 feet of ocean frontage. The house itself is nothing special, a 1971 teardown with few appealing architectural features. It is, however, very large at 11,425 square feet with 10 bedrooms and 11 full and 5 partial bathrooms, which means a similar sized modern home could be built on that footprint. Of course, as with any Hamptons estate worth its (sea) salt, the property includes a pool with pool house and a tennis court with a pavilion of its own. The listing notes that the possibility exists to subdivide the property, which is of course a very valuable proposition.

Lily Pond Lane is one of the most storied lanes in the Hamptons. Martha Stewart recently sold her mansion down the street, Steven Spielberg and David Geffen both have big spreads nearby, and, very famously, the Beales of Grey Gardens lived adjacent to this property. Whoever buys the Perelman property will find themselves in the company of some serious heavy hitters.