The lavish South Hampton home of a late shoe mogul has sold for $49.5million – less than half the original asking price.
Vince Camuto’s Water Mill, New York, property was listed for a whopping $100million when it first went on the market in 2008, but its price had recently dropped to $72million.
However, two anonymous buyers snagged the home for far less, with one paying $36million for the house and 11 acres of land and another $13million for additional parcels attached to the property, the Wall Street Journal reports.
The state, known as Villa Maria, has been listed on and off throughout the years – for $49.5million in 2013 and $67million in 2015. Even though its price dropped dramatically, it’s still the most expensive real estate transaction of the year for the Hamptons, according to Curbed Hamptons.
Camuto, along with his wife Louise, bought the downtrodden 15-acre estate called $35million in 2005.
The Nine West co-founder underwent a massive reconstruction of the property that took five years to complete, according to WMD.com.
Vince Camuto’s South Hampton home of a shoe mogul has sold for $49.5million – less than half the original asking price
Two anonymous buyers snagged the home for way less, with one paying $36 million for the house and 11 acres of land and another $13million for additional parcels attached to the property
Vince Camuto, along with his wife Louise, bought the downtrodden 15-acre estate called $35million in 2005
The Camutos attempted to sell off the the 19th-century mansion, which served as a convent for the Sisters of St. Dominic of Amityville at one point in its history, for $100million in 2008
The financial crisis of that year, which hit the real-estate market especially hard, put a hold their plans to sell-off the estate
After Camuto’s death in 2015, Louise placed the home back on the market the following year, placing a $72 million price tag on the home
Hamptons-based brokerage firm Bespoke Real Estate finally unloaded the property for Louise to the mystery buyers
Even though the home’s price dropped dramatically, it’s still the most expensive real estate transaction of the year for the Hamptons, according to Curbed Hamptons
The mansion has 11 bedrooms (including a six-room master suite), 12-and-a-half bathrooms
It also has a ‘carriage house, guest cottage, an all-weather tennis court, a heated gunite pool, two pool pavilions with a kitchen and bath, as well as a climate-controlled wine cellar’
The 20,000-square-foot property also sits on New York’s Mecox Bay, boasting 784 feet of waterfront with a panoramic view
The Camutos attempted to sell off the the 19th-century mansion, which served as a convent for the Sisters of St. Dominic of Amityville at one point in its history, for $100million in 2008.
The financial crisis of that year, which hit the real-estate market especially hard, put a hold their plans to sell-off the estate.
Louise Camuto and Vince Camuto attend the Tory Burch fashion show on September 9, 2014 in New York City
After Camuto’s death in 2015, Louise placed the home back on the market the following year, placing a $72million price tag on the home.
The mansion has 11 bedrooms (including a six-room master suite), 12-and-a-half bathrooms, along with a ‘carriage house, guest cottage, an all-weather tennis court, a heated gunite pool, two pool pavilions with a kitchen and bath, as well as a climate-controlled wine cellar,’ WMD noted.
The 20,000-square-foot property also sits on New York’s Mecox Bay, boasting 784 feet of waterfront with a panoramic view.
Bespoke Real Estate exclusively deals with properties worth $10million and above and have earned $200million worth of sales so far this year.
A New York native, Vince Camuto sold his Nine West company to Jones Apparel Group for $900million in 1999. He later became CEO and Chief Creative Officer of a new fashion company, Camuto Group, maker of the Jessica Simpson brand.
Camuto died on January 21, 2015 of prostate cancer at his home in Greenwich, Connecticut at the age of 78. His Swedish-born wife is now chief creative officer of the Camuto Group.
New York native Vince Camuto sold his Nine West company to Jones Apparel Group for $900 million in 1999
After selling the brand, Camuto became CEO and Chief Creative Officer of a new fashion company, Camuto Group, maker of the Jessica Simpson line
Camuto went to work for the Sudbury Shoe Company in the early 1960s, entering the world of shoe manufacturing for the first time
Camuto died on January 21, 2015 of prostate cancer at his home in Greenwich, Connecticut at the age of 78
His Swedish-born wife, Louise, is now chief creative officer of the Camuto Group and is also looking to sell off their other home in Connecticut
The house features 11 bedrooms, including an amazing view of South Hampton’s Mecox Bay seen here in this picture
What mansion would be complete without its own sauna/spa room in the Hamptons?
The multimillionaire Nine West cofounder and his wife, Louise Camuto, bought the then badly run down 15-acre estate called Villa Maria in Water Mill, N.Y., in 2005
A mystery buyer has scooped up late shoe king Vince Camuto?s lavish $72 million Hamptons mansion after a decade on and off the market
John Vincent Camuto, commonly known as ‘Vince’ was born June 4, 1936 in New York City
Vince’s father, Luigi Camuto, was an artisan who immigrated from Sicily and died when Vince was just two years old
Vince Camuto came from humble, with his mother, Louise Zenga Camuto, working as a seamstress to support the family after her husband died
In 1968, Camuto met fellow shoe industry professional Jerome ‘Jack’ Fisher aboard an airplane and in 1977 formed Fisher Camuto, forerunner of Nine West Group
The company combined fashionable designs with popular prices, making use of Brazilian factories for the bulk of its production
The 20,000-square-foot property also sits on New York’s Mecox Bay, boasting 784 feet of waterfront with a panoramic view