Art Collector Adam Lindemann Sells Montauk for $12.5 Million – ARTnews.com
Sequestered down a private lane with sweeping views of the ocean and rugged coastline, the approximately 7,500 square foot cottage was built for husband-and-wife art dealers Adam Lindemann and Amalia Dayan by architect Sir David Adjaye in 2004. The traditional clapboard exterior, familiar across the Hamptons in New York, disguises sophisticated contemporary interiors.
Adam Lindemann, the investor and owner of the Upper East Side art gallery Venus Over Manhattan, and his wife Amalia Dayan, formerly of Luxembourg & Dayan Gallery (now Luxembourg + Co.), are a power couple in the art world. More recently, during the pandemic, the couple opened the Montauk-based South Etna Gallery to safely showcase art within the local community.
On and off since 2015, the Lindemanns have sought to get rid of a bluffing estate in Montauk that comprises two adjoining parcels totaling approximately 5.9 acres and was last put on the market in the fall of 2020 with a price of $24 million.
Tax records now show the Lindemanns sold the largest parcel in what appears to have been an off-market deal for $12.5million, an exorbitant amount by almost any standard, but $2.5million less Tax records show that $15 million was paid for the property in 2007. It’s unclear, however, whether the overall transaction is valued at a higher amount; when the estate was last put on the market, in the fall of 2020, it was offered as a fully furnished turnkey residence with selected artwork included. Thus, if the financial buyer had purchased the piece of furniture and/or one of the selected works of art, the final price could well have been higher. (Tax records indicate the Lindemanns purchased the neighboring undeveloped 2.8-acre property in 2008 for $6.5 million and, although it was offered in tandem with the larger parcel, tax records do not do not currently reflect a transfer of ownership.)
The “saved” spaces, pictured before the Lindemanns moved, are dotted with some eye-catching artwork from the couple’s art collection.
In 2015, Lindemann paid former Gap and J.Crew CEO Mickey Drexler $50 million for Eothen, a 5.7-acre resort of rustic cottages once owned by Andy Warhol. Last year, there were unconfirmed reports that Lindemann was quietly buying from Eothen with an asking price of around $65 million.
The Lindemans also own a nearly 30-acre tract near Woodstock in the Catskills, where British artist Richard Woods has transformed the existing residence into a funky pseudo-Tudor work of art, as well as a Beaux-Arts carriage house. Arts on Manhattan’s Upper East Side which was acquired for $6.75 million in 2004 and reimagined by Adjaye into an eccentric home to showcase the couple’s collection.
This story first appeared on dirt.com, which features additional photographs and information about the isolated Montauk Residence.