Former Andy Warhol Compound on Eastern Long Island Is Being Sold

An oceanfront compound once owned by Andy Warhol on eastern Long Island is now in contract to be sold.

Paul Brennan of Douglas Elliman Real Estate declined to specify Monday what the new buyer, art collector Adam Lindemann, was paying.

The initial asking price was $85 million. However, the parcel was expanded sixfold in recent years. Brennan says Lindemann's buying the original 5.7-acre compound but not the rest of the property.

Warhol, who died in 1987, entertained celebrity guests like Mick Jagger, Keith Richards and Jacqueline Kennedy Onassis there in the 1970s.

The chairman and chief executive of the J. Crew Group, Mickey Drexler, bought the compound in 2007.

Lindemann already owns a 3.31-acre property nearby.

His attorney says the closing should occur by the end of the year.

Copyright AP - Associated Press
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