Grey Gardens bought for $220,000 later sold for $15.5 million
In a momentous deal for historic preservation, Sally Quinn and Ben Bradlee acquired the storied Grey Gardens estate in 1979 for $220,000. Following a meticulous restoration, it emerged as a cultural hallmark tied to the Beales. Its remarkable sale for $15.5 million in December 2017 underscores the lasting interest in uniquely significant properties, concluding nearly forty years of history for…
In 1979, Washington Post journalist Sally Quinn and executive editor Ben Bradlee purchased the Grey Gardens estate in East Hampton for $220,000. The 1897 mansion, known for its decline into a symbol of bohemian decline, had become an iconic fixture in the Hamptons. The couple transformed the 6,000-square-foot home over the next three decades, using it as a summer residence and preserving its unique charm amid its deteriorating state.
When the property was listed for sale in early 2017, it carried a price tag of $20 million, reflecting its cultural significance and prime location on Georgica Pond. However, the estate sold for $15.5 million in December 2017, a $4.5 million discount off the asking price, marking the latest chapter in its storied history.
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