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The 5 acre 5 home estate that Andy Warhol owned on the East End of Long Island, New York has sold for nearly 30 million dollars Millard Drexler, head of J. Crew and part of the Drexler family that has extensive retail holdings in the country. The estate has been on the market for a number of years and sold significantly below the original asking price of 50 million dollars.

The pop art icon’s 5.6-acre property in Montauk, at the tip of Long Island, was bought by Millard Drexler, the chief executive officer of J. Crew, the clothing retailer, Newsday reported on Saturday.

The realtor that sold the estate, Prudential Douglas Elliman, did not reveal the selling price. But the profit must have been a pretty penny.

Warhol, who died during a gall bladder operation in 1987, owned the estate with filmmaker Paul Morrissey. In the 1970s, the two paid $220,000 for a 20-acre, five-house property called Eothen, which has a three-car garage, a stable for four horses and a main house with seven bedrooms, 4.5 baths and four fireplaces. Plus, there’s 600 feet of oceanfront overlooking a bluff.

In 1993, Morrissey donated 15.1 acres to the Nature Conservancy, an international conservation group, Newsday said.

He put the property on the market in 2001 for $50 million, but the final price reportedly may have been below $30 million.  via the BostonHerald.com

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