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Buy a $50M Parcel of Southhampton's Famed Wooldon Manor

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Once privy to the title of the "most opulent home in the Hamptons," the storied Wooldon Manor, built for the heiress to the Woolworth's fortune, was ultimately destroyed in the 1940s, leaving only its surrounding outbuildings for South Hampton's wealthiest to squabble over. First to go was the 10,000-square-foot pool house, which fashion designer Vince Camuto paid $75M for, and then flipped for $80M. Now, boasting a discount by comparison, a four-acre beachfront chunk of the estate is primed to hit the market for the first time in more than 50 years, asking $50M.

Equipped with a "tea house" and two Tudor-style homes built around 1900—one as a four-bedroom, 4,600-square-foot carriage house and one as a four-bedroom, 2,700-square-foot caretaker's cottage—the land backs up onto a stretch of private beach, with rolling lawns perfect for high society soirées. It's a "once in a lifetime property," muses the brokerbabble. "Build your dream."

· 28 Gin Lane [Corcoran]
Southampton Property To Go on the Market for $50 Million [WSJ]
· All Wooldon coverage [Curbed National]