Ralph Lauren Reportedly Set To Purchase Edward Albee's Home

MONTAUK, NY — Ralph Lauren is reportedly set to purchase an iconic Montauk property formerly owned by famed playwright Edward Albee.

A listing for the property, which is located at 320 Montauk Highway, said the home was initially priced at $20 million.

According to the Wall Street Journal, Lauren is in contract to purchase the home, which would give him contiguous ocean frontage, since he owns property on either side.

And, says Architectural Digest, Lauren moved to purchase the property not long after it was listed.

The exact sale price has not been reported.

According to previously shared information from when the Douglas Elliman listing came to market: "Sited on 2.8 acres, with 200 feet of ocean frontage, the estate at 320 Old Montauk Highway in Montauk features three structures — a main house, guest cottage and pool house, plus pool and tennis — the property was purchased by the world-renowned 'Who’s Afraid of Virginia Wolf' playwright in the 1960s.

"The legendary stage actress Uta Hagen, who originated the role of Martha in that famous work, convinced Albee to buy the property, which he proceeded to populate with an impressive array of native plants and trees. He went on to write the Pulitzer Prize-winning 'Seascape,' and many other of his more notable plays, in the second-floor study overlooking the beach. In addition to Ms. Hagen, other notable guests included fellow writer Tennessee Williams and artist Lee Krasner.

"Represented by Paul Brennan of Douglas Elliman Real Estate, the waterfront property comprises a 2,100-square-foot cedar-shingle main house, with three bedrooms and two-and-a-half baths; an 817-square-foot shingle-style guest cottage, with one bedroom and one bathroom; a cedar shingle-style pool house with half bath; pool; and all-weather tennis court. This is the first time it’s been on the market in more than 50 years. The sale will benefit the Edward Albee Foundation, which supports writers and artists through its residency program," the listing said.

Patch photo courtesy Douglas Elliman Real Estate.