Access Industries’ Len Blavatnik has plenty of commercial irons in the fire, but was behind a quiet residential deal that has set the Hamptons luxury market ablaze.
The Ukrainian-born billionaire was the buyer of 408 Further Lane, Behind the Hedges first reported. The deal closed in late July, but property records showed the buyer identified as a limited liability company named Brise Lontaine.
Blavatnik paid $115 million — $13.5 million per acre —for the eight-and-a-half-acre property, marking the largest deal for a single residential parcel in Hamptons history.
Combined parcels have sold for a higher price tag, but in terms of a single parcel in the Hamptons, none had surpassed a $105 million deal in Water Mill in 2021. The sale also represented the first nine-figure deal in the Hamptons in almost two years.
The billionaire is not new to the area, already owning a smaller home on Further Lane and an oceanfront estate on Dune Road in Bridgehampton.
The seller was Terry Semel, the one-time chair of both Yahoo! and Warner Bros. Semel bought the property from Blackstone’s Stephen Schwarzman in 2005 for $43 million. Neighbors on Further Lane include Jerry Seinfeld, Lorne Michaels and Larry Gagosian.
In the two decades of Semel’s ownership, the five-bedroom cottage that was the prize of the parcel was converted into a guesthouse, while a modern main house draws the bulk of the attention today; its square footage is unknown and pictures of the residence are difficult to come by.
The average sales price in the Hamptons in the third quarter was $3.5 million, according to Miller Samuel, while the median sale was an even $2 million. Both of those numbers represented the second-highest marks on record, per the report.
Elsewhere, Blavatnik is working with fellow billionaire Vlad Doronin of the OKO Group on securing approval for changes to the Aman Miami Beach luxury condo and hotel development under construction. The oceanfront project will include a 22-unit Aman-branded condominium in an 18-story building, as well as the 56-key Aman hotel in the historic Versailles structure.
— Holden Walter-Warner
Read more
Development
South Florida
Vlad Doronin’s OKO, Blavatnik’s Access seek approval to tweak Aman Miami Beach
Top Hamptons brokers ranking 2025
Hamptons’ top brokerages navigate dragging market, uptick in competitionÂ
