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Warhol's PriceChopped Montauk Estate (Finally) Sells

With The Beach on seasonal hiatus, it falls to us to update the lengthy saga of Andy Warhol's Montauk escape, Eothen. Put on the market in 2001 by owner/Warhol confidante Paul Morrissey with a then-unheard of asking price of $50 million, the property (and all its pre-digital charm) was PriceChopped down to $40 million to kick off summer 2006. Now, NYMag's Intelligencer reports, the property has gone to contract, with J. Crew CEO Mickey Drexler supposedly paying somewhere south of $30 million.

High-end East End real estate crash? Nah. That crazy Bridgehampton farm (with, you know, the attached golf course) is holding steady at $75 million, not to mention the myriad other for-sale properties that Intelligencer mentions. Act quickly, and half of East Hampton can be yours.
· Andy Warhol's Montauk Estate Finally Bought [Intelligencer]
· Behind the Hedgerows: Warhol PriceChopped! [The Beach]
· ShelterPorn: Classic Warhol Beach Style [The Beach]