Venture Capitalist Buys Krakoffs' $49.5M Amagansett Masterpiece
Venture capitalist Michael D. Moritz has snapped up the Amagansett property, a stunning beachfront residence crafted by renowned designer Reed Krakoff and his wife Delphine. The couple, known for their high-end property renovations and sales, are seeking $49.5 million for the five-year labor of love at 55 Dune Road.
The Krakoffs, who have previously renovated and sold iconic properties like Jackie Kennedy's childhood mansion and Huguette Clark's New Canaan estate, have put their unique design philosophy into this Amagansett home. Reed Krakoff has expressed his disdain for the term 'house flipper,' emphasizing that design is his life's passion. The couple typically holds out for their asking price and usually secures it, as seen in their 2014 sale of their lavishly decorated Upper East Side townhouse to Jeff Blau for $51 million.
The Amagansett property, spanning 7,200 square feet, is a harmonious blend of controlled, hard interior design and the natural, wild environment outside. It features three glass volumes, a concrete platform, and a Gunite pool. The home is filled with contemporary blue-chip treasures, including a Richard Long painting, a Martin Szekely cast glass table, and pottery crafted by Reed Krakoff himself. The Krakoffs are known to start exploring new properties soon after selling one, suggesting they may already have their eyes on a new project.
The Amagansett property, offered at $49.5 million, is a testament to the Krakoffs' design prowess and eye for detail. With its unique design philosophy and luxurious amenities, it's no surprise that venture capitalist Michael D. Moritz has snapped it up. The couple continues to make their mark on the high-end property news, with their Connecticut estate still on the market for $25.5 million.
