The 2020 Covid lockdowns saw scores of people with the means to do so flee their New York City apartments and hoover up pricy properties in Connecticut, the Catskills and everywhere else within close proximity to New York where they’d have more room to spread out during the quarantines. Nowhere was that influx more a moneyed tidal wave than in the Hamptons, the string of artsy and wealthy resort communities that line up along the beach at the far east end of Long Island’s southern fork. Inventory of homes quickly thinned, and cut-throat bidding wars ensued. Though the lockdowns are largely over, for now at least, multimillion-dollar houses in the Hamptons are still flying off the shelf at an unprecedented pace.
Alas, the white-hot Hamptons market didn’t seem to help Adam Lindemann, the providentially born billionaire investor and contemporary art world mover and shaker whose father is late billionaire George Lindemann. On and off since 2015, Lindemann and his wife, Amalia Dayan, have looked to shed a bluff-top estate in Montauk that comprises two neighboring parcels that total about 5.9 acres and was last on the open market in the fall of 2020 with a $24 million price tag. Online marketing materials from the time show the smaller 2.8-acre parcel is undeveloped but permitted for a 3,200-plus-square-foot home, while the larger 3.1-acre parcel, which was also available on its own last year at $15.5 million, includes a spacious residence and heated swimming pool.
Tax records now show the Lindemanns have sold the larger parcel in what appears to have been an off-market deal for $12.5 million, a sky-high amount by almost any standard but a hefty $2.5 million less than the $15 million tax records show was paid for the property in 2007. It’s not clear, however, if the overall deal is valued at a higher amount; when the estate was last on the open market, in the fall of 2020, it was offered as a fully furnished turn-key residence with selected artworks included. So, if the financier buyer bought the furniture and/or any of the selected artworks, the final price could well have been higher. (Tax records indicate the Lindemanns bought the undeveloped 2.8-acre neighboring property in 2008 for $6.5 million, and, though it had been offered in tandem with the larger parcel, tax records do not currently reflect a transfer of ownership.)