Blockbuster listing over in the Hamptons: Lasata, the 11-acre childhood summer escape for Jackie Kennedy and current retreat of fashion designer and ex-Coach creative director Reed Krakoff has come on the market for a whopping $53.99 million, surely securing a spot on our map of the most expensive properties for sale in the tony region. As the Wall Street Journal reports, the estate is actually being offered as two separate parcels, one with the main house, pool, and guesthouse on 7.2 acres for $38.995 million, and the other with another four acres and tennis courts for $14.995 million.
Named after the Native American name for "Place of Peace," the property was owned by Kennedy’s grandfather, John Vernou Bouvier Jr. in the 1920s, and has only had a "handful of owners over the past century," per the listing. According to the Journal, when Krakoff and his wife, interior designer Delphine Krakoff, purchased the home for $25 million in 2007, it "hadn’t been renovated in decades." The over-$10 million price jump now would account for a total restoration of the house and grounds right after that the Krakoffs bought it.
The Lasata sale is just the latest in a string of eye-watering real estate deals for the designer couple with an itch to spruce up homes. In 2014, the Krakoffs purchased the empty Connecticut estate of late copper heiress Huguette Clark for $14.3M—that is after they unloaded one Upper East Side mansion for $51 million and picked up another for $28 million. The couple is reportedly scoping out beachfront Hamptons land to build a new contemporary home.
Below, more photos of the renovated main house, which was designed by architect Arthur C. Jackson and first completed in 1917. It’ all very shelter magazine ready.