"Hamptons Mansion Sells at Auction for Nearly Half its Original $150 Million Asking Price"

A Hamptons estate known as La Dune, previously listed for $150 million, was sold at auction for $88.5 million after falling into bankruptcy. The property, featuring two mansions on a four-acre compound with oceanfront views, was sold in two parts for $40.5 million and $38.5 million. The previous owner, Louise Blouin, purchased the property for $13.5 million in the 1990s and spent millions on expansions. Real estate sales in the Hamptons slowed last year due to inventory shortages, but high-end market demand and prices remain strong.