Creating a stock photography behemoth gave Jonathan Oringer deep pockets for luxury real estate, and now his pockets are getting even deeper after executing one of the year’s biggest sales in the Hamptons.
Oringer, the founder of Shutterstock, sold his home at 125 Mid Ocean Drive in Bridgehampton to an undisclosed buyer for $57 million, the Wall Street Journal reported. The deal for the 10,300-square-foot home breaks down to $5,534 per square foot.
Oringer paid $40 million for the home in 2014, two years after his company began trading publicly, elevating Oringer to billionaire status. Barnes Coy Architects designed the home, which was freshly completed when Oringer swooped in.
On an estate more than two acres large, the eight-bedroom modern home features a gym, game room and media room. The grounds feature an infinity pool, outdoor kitchen and fireplace. There’s also a private walkway to the beach.
Oringer previously listed the home for $52 million in 2021, only to quickly pull it off the market. The transaction unfolded in an off-market deal. He did not respond to a request for comment.
Douglas Elliman’s Erica Grossman, Paul Brennan and Martha Gundersen represented the seller. Compass’ Terry Cohen procured the buyer.
Oringer stepped down as chief executive officer in 2020, but remains executive chair of the company, which is in the midst of a merger with Getty Images.
This isn’t Oringer’s first record deal. In 2020, he and his wife paid $42 million for a waterfront mansion at 4358 North Bay Road in Miami Beach, a nine-bedroom, 13-bathroom estate sold by beverage tycoon Stephen Levin and his wife Petra.
The sale was the highest ever at the time on North Bay Road, which is home to celebrities such as Dwyane Wade and Gabrielle Union; Phil Collins and Chris Bosh.
In the second quarter, luxury sales volume in the Hamptons jumped 4.3 percent year-over year, according to real estate appraisal firm Miller Samuel. The median luxury price for the quarter was $11.35 million, 18.8 percent higher than last year’s second quarter.
— Holden Walter-Warner
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