Gin Lane Estate, Estate of the Day

by Deidre Woollard (RSS feed)
Jan 6th 2008 at 1:06PM

Sadly, a $65 million home in the Hamptons barely has the power to shock anymore. The Wall Street Journal recently reported that a Southampton, N.Y., estate formerly owned by Martin "Marty" Richards, who produced the Oscar-winning 2002 film "Chicago" and many Broadway plays, has gone on the market for $65 million.

We've covered Richards before. His riverfront duplex was first listed at $29 million and then went down to $22.7 million. The current owner bought the home from Richards for $23 million in 2003 and is said to have spent $25 million overhauling the property with the help of interior designer Robert Couturier.

This home is located on the very popular Gin Lane and has more than 400 feet of beach frontage. There is an eight-bedroom main house as well as a 7,500-square-foot guest house. The grounds include a tennis court, pool, spa and a lily pond. The main house is one of the oldest summer cottages in the Hamptons. The main manor home is absolutely flawless and the almost six acres are exquisitely done. As the listing says, it is a "true Southampton estate." Is it worth $65 million? I've learned to turn off my inner skeptic when looking at Hamptons listings, there is probably some deep-pocketed person willing to pay exactly that. Yes, even in this uncertain real estate market.

Gallery: Gin Lane Estate