The most expensive house for sale in the Hamptons is this oceanfront property in Southampton, which is marketed for an eye-popping $150 million.

The estate, known as La Dune, features two homes, two swimming pools, and a tennis court that are submerged.

However, there’s just one problem; no one wants to buy it.

La Dune is located in one of the most sought-after destinations in the world.  It’s where millionaires and billionaires go on holiday with their families in the summer; it was located on four acres of oceanfront land on Long Island, New York, offering the owner a stunning view of the ocean. But no one seems interested in buying the property for themselves and their family.

One reason for that is the estate has been on and off the market since 2016.

There are 19 bedrooms and 16 baths across the two mansions that make up the compound.

Aside from the amazing beach views, it also boasts a movie theater, billiards room, gym, fireplace, a 6-car garage, and these amenities.

Long before the second house on the site was constructed in the early 2000s, the first house was constructed more than 100 years ago. The controversial Canadian art magazine editor and collector Louise Blouin is the owner of the property, which is known as La Dune since it is situated close to lovely sand dunes.

Blouin, who is 63 years old, has been unsuccessfully attempting to sell the seaside home for the past six years. Despite the prime location, buyers still think the listing price is well above what it’s actually worth. But it will be the most expensive house ever sold in the upscale summer neighborhood outside of New York City if the house sells for the asking amount.

La Dune has been advertised as a summer rental for the ultra-rich despite not selling.

In fact, the cost of renting it will make your eyes water just thinking about it. You will need to pay more than $1 million for a one-month stay.

But considering that the buyer would also probably need to pay a mortgage and cover the cost of insurance, which would be very expensive for the beachfront property since it might be exposed to hurricanes that come up the coast from the Caribbean down south. According to estimates, the property’s annual tax bill will be $130,000. A lot of money to spend just on taxes.

Blouin said that she no longer needed the Long Island home because she now spends the majority of her time in Europe with her family. Given its massive expense, Blouin wants to sell the property because she and her family do not use it as much as they should.

Sources: AWM, CNBC, NYpost

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