A Water Mill, New York, estate first listed in 2008 for $100 million has gone into contract.
Owned by shoe designer Vince Camuto, who passed away in 2015, and his wife and business partner, Louise, the 20,000-square-foot Hamptons waterfront home sits on 15 acres and underwent an extensive renovation after the fashion-forward couple bought it. It has been on and off the market since 2008, and was most recently listed for $72 million. Listing broker Zach Vichinsky of Bespoke Realty was unable to reveal the selling price or the buyer’s identity.
"The property has been on and off the market and gone through several different iterations of an offering spectrum with single pieces and as a compound," said Mr. Vichinsky, who began working with the seller in 2016. "Frankly, it’s such a special property and such a heavy duty magnitude—both price and just offering—that something like this just necessitates finding the right person and ultimately that person was found."
After failing to sell at $100 million during the housing crash, Villa Maria returned to the market in 2013, with the home and 7.6 of its acres listed for $49.5 million. In November 2015 the price was $67 million for the full estate.
It was later relisted by Bespoke for its final asking price of $72 million.
Built in 1887, shipyard executive Edward P. Morse brought in architect Frank Freeman in 1919 for a renovation that significantly expanded the home. In 1931, the site was sold to the Sisters of the Order of St. Dominic of Amityville and became known as Villa Maria. The Camutos purchased it from the order at auction in 2005 for $35 million, according to Forbes.
A multi-year renovation was overseen by Manhattan-based architect Andre Tchelistcheff, landscape architect Edmund D. Hollander and interior designer Carol Egan. The home was featured in an Architectural Digest spread in 2013.
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The estate features an 11-bedroom main house, tennis courts and a swimming pool, a climate-controlled wine room and1,100 feet of water frontage overlooking Mecox Bay. A carriage house and guest cottage also sit on the property.
"It’s one of the most iconic properties, not only in the Hamptons but probably in the country if not in the world," Mr. Vichinsky said. "The history, the pedigree, the quality of the renovation and restoration that was performed on the property over the better part of half of a decade. No expense was spared in making it what it is today."
Women’s Wear Daily published the first report of the home’s sale.