Death, debt and divorce are commonly known as the three Ds of real estate, the primary reasons people sell in a down market. The owner of this newly listed bayfront estate in the Hamptons, Michael Fuchs, a principal of RFR Holding, is most certainly alive. And he’s worth about $1.7 billion, so hopefully debt isn’t a problem. Divorce is, though.
Fuchs and estranged wife Alvina Collardeau-Fuchs spent much of last year battling out their finances in London courtrooms and in November, a judge awarded Collardeau-Fuchs £37.5 million (about $44 million) in cash and assets. Now, in what may or may not be a coincidence, one of their many vacation homes, this one along one of the most exclusive streets in the Hamptons, has come up for sale with a mysterious asking price that is only available upon request. Fuchs paid $14.5 million for the property back in 2006.
Known as Billionaires’ Lane, for the crush of billionaires who own homes on the long slender street, the fabled street is lined with multimillion-dollar homes, both along Shinnecock Bay and the Atlantic Ocean. Fuchs’s Southampton home is on the bay side, which means there is a private dock that’s ready for a boat and water toys. Ocean lovers need not fear, however, because this place offers the best of both worlds because there is private ocean beach access. There is also a separate 1.5 acre lot with a small, older cottage next door included in the sale. All in all, there are 3.6 acres.
Built in 1998, the shingled traditional residence is privately sited at the end of a long drive. A bulkhead allows the house to sit unusually close to the water, which maximizes the pretty views. At about 5,000 square feet, it’s spacious, with six bedrooms, six bathrooms and one powder room. (The cottage adds another bedroom to the mix.)
Other than a lavender neon Tracey Emin text sculpture that animates the living room, the décor is clean, simple and mostly white, leaving a blank canvas for new owners. The double-height great room opens to waterfront decking, while the eat-in kitchen opens up to the 40-foot swimming pool. As for the bedrooms, there’s a water-view primary bedroom, a junior primary suite on the main floor, a Jack-and-Jill suite on the second floor, and two guest more suites on the third floor.
Outside, there are numerous decks, patios, and balconies to enjoy the waterfront views, especially the sunsets on the bay. There’s also a tennis court and an outdoor shower for rinsing off after the beach.
Even with his Southampton home up for grabs, Fuchs, who co-owns the iconic Chrysler and Seagram buildings along with childhood friend (and Southampton neighbor) Aby Rosen, Fuchs still presides over an international portfolio that includes a six-story house in London (it has an indoor pool!), a home on the French Riviera (Alvina is French), a townhouse in New York’s Upper East Side, and a getaway in Miami. Pretty much exactly what you’d expect from a globe-trotting billionaire real estate investor. Shame about the divorce, though.