This luxurious Southampton rental located at 376 Gin Lane is still available for the remainder of August until Labor Day weekend, with a price tag of $1.1 million. Additionally, it is currently in bankruptcy after filing earlier this month. Its sister property, located at 366 Gin Lane, also filed for Chapter 11 last year, just days before a scheduled foreclosure auction. Collectively known as Le Dune, these oceanfront homes are being marketed as “The Spirit of Southampton.” Previously, the property was listed for the hefty price of $1.8 million for August through Labor Day, making it the most expensive rental listing in the East End. However, there were no takers. Le Dune is being offered for sale at a staggering $150 million, making it the most expensive listing in the Hamptons. The individual homes can also be sold separately. These properties are being sold by Louise Blouin, a well-known French-Canadian art collector and former art magazine publisher, who is often referred to as the Red Queen due to her preference for wearing red and her reputation for firing staff members, similar to the character from “Alice in Wonderland.” Blouin has also been known to withhold payments from writers, executives, and vendors. Combined, Le Dune is listed at $150 million, making it the most expensive property in the area, including tennis courts. The compound features nearly two dozen bedrooms, a patio with stunning ocean views for al fresco dining, and a cozy fireplace for those approaching fall evenings. Blouin purchased the properties for $13.5 million in the 1990s and initially listed them for $145 million in 2016. Over time, the price dropped to $110 million and then to $94 million by 2019. Real estate broker Shawn Elliott, representing Nest Seekers International along with fellow broker Geoff Gifkins, stated that bankruptcy is a strategic move to organize the property, ease stress, and protect assets. Elizabeth B. Bowden and Gifkins from Nest Seekers are also listing the property for rent. Blouin did not respond to calls for comment. The 4-acre compound includes a traditional shingled home from the late 1800s and another designed by French architect François Catroux in 2002. Together, they boast a total of 23 bedrooms, two pools, a tennis court, a theater, a sauna, a spa, and two gyms. Furthermore, this property was used as a filming location for Woody Allen’s “Interiors” in 1978. In addition to Le Dune, Blouin has previously attempted to sell real estate at exorbitant prices. For instance, she listed a property in the West Village at 165 Charles St. for $60 million before selling it for $23.7 million in 2017. Blouin allegedly took out a $26 million mortgage on Le Dune in 2018, and when she fell behind on payments, foreclosure proceedings were initiated. Reports indicate that the loan balance increased to $40 million last year. Blouin was also revealed in the Panama Papers for using offshore accounts to store money. Although having offshore accounts is legal, they have faced scrutiny due to their association with individuals involved in illegal activities such as tax evasion. In interviews, Blouin denied any wrongdoing and justified the use of offshore accounts for funding real estate transactions. In July, it was reported that Blouin’s properties consumed an astonishing 12.1 million gallons of water from July 1, 2022, to June 30, 2023, according to the Suffolk County Water Authority, whereas the average home consumes 130,000 gallons of water per year.
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