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Macklowes Sell East Hampton Oceanfront Home for $35 Million

Hard Rock Café co-founder Peter Morton has bought the oceanfront home of his neighbors, Lloyd and Barbara Macklowe, founders of the Macklowe Gallery. The property at 51 West End Road in East Hampton sold for around $35 million, according to the Wall Street Journal. The property had originally been listed in 2021 for $60 million. Kyle Rosko and Marcy Braun of Douglas Elliman’s Eklund/Gomes Team exclusively represented the sellers. Ed Petrie and James Petrie of Compass represented the buyer. 

Says Rosko, “I first admired this property as a child surfing in front of it for many years.  It’s a most magical oceanfront property and to now have listed and sold it is a dream come true. Representing incredible and unique properties at the highest level is why I am in this business. From start to finish this listing took just under a year to contract. Our sellers are happy knowing that the new owners will honor this property as it was originally created, a remarkable oceanfront estate.” 

Records show that the Macklowes purchased the property in 1992 for $3.45 million, so they still stand to make quite a profit on the deal, even after extensive renovations over the years by Ben Krupinski Builder, builder to many Hamptons celebrity homes.” 

The roughly 6,100 sq ft home is set on 170 feet of waterfront on prestigious Georgica Beach, including an oceanside pool, which is a rarity on West End Road. The home was originally built in 1926 by Roger Bullard, the same architect behind East Hampton’s venerable Maidstone Club. 

Sales in the Hamptons are picking up since the beginning of the year, after dropping 15% in the third quarter of 2022. A property next door to the Macklowes sold in an off market deal this past fall for $35 million.