Martha Stewart sells Hamptons home for $16.5 million, nearly double the asking price
Stewart initially bought the residence in 1991 for $1.7 million
The vacation home of the U.S.’s reigning domestic goddess has sold for a premium.
Martha Stewart parted with her long-time East Hampton, New York, home for $16.5 million last month, according to records with PropertyShark. That’s close to twice as much as its reported asking price of $8.4 million. Records of the off-market deal were made publicly available last week.
Another media mogul picked up the 1873 shingled home. The buyers were Kenneth Lerer, the former chairman of BuzzFeed and co-founder of the Huffington Post, and his wife, interior designer Katherine Sailer, property records show.
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The founder of Martha Stewart Living Omnimedia, who also turned 80 in August, bought the residence in 1991 for $1.7 million, according to property records.
"It was the oldest house on the block and a total wreck," she said in an article about the sale of the property on MarthaStewart.com. "I decided I had to have it."
Ms. Stewart put her well-known design skills to work, restoring the home to give it a classic, but contemporary feel. "It’s an old-fashioned house, but it has a clean, pristine vibe," she continued.
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The home features original paneling and built-ins, leaded-glass windows, a glass-enclosed porch with teal-blue Mexican cement tiling that acts as a dining area, wainscoting, and a marble vanity in the primary bathroom, according to the story.
Ms. Stewart furnished the home with yard sale and consignment store finds, including a pink-and-yellow Venetian-glass chandelier in the formal dining room and a collection of antique taxidermied fish placed throughout the house. Many of the pieces will be transferred to her home in Maine, according to her website.
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Mr. Lerer, who left Buzzfeed in 2019, is a managing partner at the venture capital fund Lerer Hippeau, according to the firm’s website. Representatives for the company did not immediately respond to requests for comment.
In another recent real estate deal, he and Ms. Sailer sold their Miami mansion in April in an off-market deal for $25 million, The Wall Street Journal reported.
Representatives for Ms. Stewart did not immediately return requests for comment. Dirt first reported the story.
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