He’s not giving up. Former J. Crew boss and serial property investor Mickey Drexler’s secluded Hamptons beach house is back on the market at the reduced asking price of $21.5 million.
Set on more than 2 acres of land at the end of a private driveway with 315 feet of ocean frontage, Drexler’s Wainscott home is one of the exclusive hamlet’s handful of oceanfront properties.
The three-bedroom, 3,500-square-foot wooden house blends traditional elements with a modern design. Features include an open floor plan, double height ceilings and large picture windows that enhance the panoramic views.
All bedrooms have access to the outdoors via wide wraparound decks complete with several sun loungers and an outdoor shower, while a wooded boardwalk provides direct private access to the beach.
According to listing records, the J. Crew chairman and former chief executive officer paid $17 million for the property, which also boasts unobstructed views over Wainscott Pond, in 2018 before listing it for sale for $26.5 million in 2015, only to reduce the price not long after to $22.5 million. He later removed it from the market.
This is not the first time the native New Yorker has dabbled in Hamptons real estate. In 2015, Drexler sold Andy Warhol’s former Montauk estate (a collection of white-shingled cottages overlooking the ocean) for $50 million, which was a record for the beach community.
He had also until recently been trying to sell two Manhattan abodes, but pulled both from the market after failing to find buyers. The first is his TriBeCa loft apartment on Franklin Street, which was last for sale for $19.95 million, down from $35 million when it was listed in 2015.
The second is a townhouse, also in TriBeCa, which he listed for just under $30 million and later cut to $27.5 million. The interiors of both homes were designed by French interior designer Thierry Despont.
The listing agent for the Wainscott beach house is Paul Brennan of Douglas Elliman Real Estate.
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