Billionaire Art Collector Puts Montauk Home on Market to Purchase Estate Owned by Andy Warhol

Adam Lindemann, billionaire art collector and gallerist, has put his $29.5 million Montauk home on the market after he announced that he is currently in contract to buy a oceanfront estate just a few doors down previously owned by Andy Warhol.

Lindemann’s home was listed by Ed Petrie and James Petrie of Compass Real Estate.

The six-acre estate includes a 5,000 square foot home designed by renowned British architect David Adjaye, according to the listing.

The 6-bedroom, 8.5-bath home includes a study/library, home theater, wine cellar and playroom.

It also features outdoor dining and seating areas and a 22-foot by 40-foot heated swimming pool and Jacuzzi, according to the listing.

Warhol’s former estate, known as “Eothen”, is currently owned by Millard “Mickey” Drexler, CEO of J.Crew, who purchased the property, which includes six cottages, for $27 million, according to a report in 27east.

Warhol and Paul Morrissey both purchased the estate, originally built in the 1930s in 1972 for about $225,000, according to PageSix.

Drexler hired architect Thierry Despont to renovated the six cottages on the property arranged in a slight semi-circle after he purchased them in 2007, according to the report.

Drexler put the property on the market in June, along with an adjoining 22-acre horse pasture for a total of $85 million, 27east reports. However, he gave the option to purchase them separate, and Lindemann appears to only want the home.

It is still unsure how much the estate alone will be sold for.

“I knew Andy in the early 1980s as a very young man, and I’m a collector of his work . . . I’m very lucky to have this opportunity to live out this dream. It’s a work of art,” Lindemann told PageSix.