Big news in Montauk: It looks like Eothen, Andy Warhol’s former getaway, has finally snagged a buyer after five years. Sources say it’s been sold to J.Crew CEO Mickey Drexler (though he may have partners in the deal). Its windswept, sun-bleached houses (on 5.6 acres that front 600 feet of the ocean) are perfect for a catalogue shoot. Owner and onetime Warhol manager Paul Morrissey first put it on the market in 2001 for $50 million, which he later hacked down to $40 million. Word is Drexler is paying nowhere near that, and is likely to be offering under $30 million. For other aspiring land barons, Gosman’s, the legendary Montauk seafood enclave that spans eleven acres of waterfront property and encompasses a restaurant, clam bar, and market, is on the block at $55 million. It’s been owned and operated by the Gosman family for 65 years and is zoned for a “resort,” which likely means condos or a hotel. In East Hampton, the Maidstone Arms ($10.5 million), East Hampton Point ($55 million), and the James Lane Cafe ($5.6 million)—are all up for sale, as is the Deep Hollow ranch in Montauk ($17 million) and much of Shelter Island: the Ram’s Head Inn, Chequit Inn, and Island Marina

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Related:

• Archive: “Intelligencer”
• Articles by Beth Landman | S.Jhoanna Robledo
• Table of Contents: December 4, 2006 issue of New York | Subscribe!