Banker and Revlon boss Ron Perelman (pictured) sold his 9-acre oceanfront home in the Hamptons for $84.5 million, $30.5 million less than his original asking price
Banker and Revlon boss Ron Perelman just sold his luxurious nine-acre oceanfront home in the Hamptons for $84.5 million, $30.5 million less than his original asking price.
The estate was purchased by a buyer listed anonymously under 153 LPL LLC, according to property records obtained by the New York Post.
Perelman, 79, first put the home on the market last June with a listing price of $115 million.
Despite the significant decline in price, the Revlon chairman – once worth nearly $20 billion – still profited on the sale of the 10-bedroom, 15-bathroom property.
He originally purchased the estate in 1986 for $4.25 million, however, he hasn’t lived in the home for many years.
The sale comes as Revlon is struggling with $3 billion in debt and the five-time divorced father of eight seeks a ‘less complicated and less leveraged business life.’
‘A simpler life, with less running around and more time with my family, including home schooling our youngest children, has energized me and taught me new things,’ he told Vanity Fair in 2020.
‘For the future, I will spend my time more with my family and all my children, seeking new investment opportunities, and running our companies.’
The estate – located at 153 Lily Pond Lane in East Hampton – was purchased by a buyer listed anonymously under 153 LPL LLC, according to property records obtained by the New York Post
The 10-bedroom, 15-bathroom oceanfront property is 11,435 square-feet and sits on 9.5 acres
The property includes a pool (as seen from inside the home), pool house and tennis court with its own pavilion. It also has a three car garage
The house has 11 full bathrooms and four half-baths
The home features a dining area with floor to ceiling windows that provide an ocean view
The living room housed multiple sofas, lounge chairs and tables
Perelman’s former Hamptons home, located at 153 Lily Pond Lane, dates back to the 1970s.
While it has few notable architectural features, the 11,435 square-foot home has 10 bedrooms, 11 full bathrooms and four half-baths. It also exhibits three fireplaces.
However, most noteworthy is the property’s luxurious exterior, which is seated on 9.5 acres of land. The property includes a pool, pool house and tennis court with its own pavilion. It also has a three car garage.
The realtor’s listing notes the possibility exists to subdivide the property, which Dirt alleges may have been a draw for the anonymous buyer.
The East Hampton property was just one of two homes Perelman owned in the area of New York known as a vacation home destination for the elite.
The home also exhibits three fireplaces, according to the property listing
One of the 10 bedrooms in Perelman’s former East Hampton estate
A view of a staircase inside the East Hampton home which Perelman sold for more than $30 million under asking price
An interior view of the entry way at 153 Lily Pond Lane in East Hampton
A photograph shows the wood-burning fireplace in the billiard’s room
A view of the pool and oceanfront from inside 153 Lily Pond Lane
The view from the top of the interior staircase
He still owns The Creeks, which is one of the largest estates in the Hamptons. The 57-acre estate is situated on Georgica Pond and is shrouded in privacy.
Perelman has hosted a plethora of celebrities – from Jon Bon Jovi to Jennifer Hudson – at the Creeks estate for his annual Apollo in the Hamptons bash.
Although noted for it’s gorgeous exterior and appeal, the interior touts some unique features included floors that are still splattered with paint drippings from the legendary artist Jackson Pollack from when ‘The Creeks’ was much more of an artists colony.
The Revlon boss is also trying to sell the Creeks, according to the Post. He is seeking $180 million for the property.
Perelman also listed his Upper East townhouse last spring for $60 million. It has not yet sold.
His downsizing efforts, however, extend past his property portfolio. The billionaire also sold his enormous 70 percent stake in Humvee maker AM General in July 2020, in addition to his $37.3 million auction for paintings by Joan Miro and Henri Matisse.
Perelman still owns The Creeks (pictured), which is one of the largest estates in the Hamptons
The 57-acre Creeks estate is situated on Georgica Pond and is shrouded in privacy
Perelman sought help from Goldman Sachs in 2019 to ‘explore strategic alternatives’ for Revlon’s finances after $3 billion in loans was due.
He also sold 39 percent stake in Scientific Games, which provides gambling products to casinos, in September 2020. He also sold his ‘money-losing but popular’ East Hampton newspaper, the Independent, in June.
Meanwhile, Perelman’s net worth has plummeted from $20 billion in 2018 to $4.55 billion.
Although he claims to seek a ‘simpler life’ that is more family oriented, some believe Perelman’s downsizing efforts are more tied to his company’s debts.
The financier has been married five times, most recently to Harvard-educated psychiatrist Anna Champion. The pair share two children.
Perelman also has six other children from his previous marriages.