Art Collector Adam Lindemann Sells $12.5 Million Montauk Spread

Sequestered down a private lane with sweeping ocean and rugged coastline views, the roughly 7,500-square-foot cottage was built for husband-and-wife art dealers Adam Lindemann and Amalia Dayan by architect Sir David Adjaye in 2004. The traditional shingled exterior, familiar across the Hamptons in New York, disguises sophisticated contemporary interiors.

Adam Lindemann, the investor and owner of the Upper East Side art gallery Venus Over Manhattan, and wife Amalia Dayan formerly of the gallery Luxembourg & Dayan (now Luxembourg + Co.), are a powerhouse couple in the art world. Most recently, during the pandemic, the couple opened the Montauk-based gallery South Etna to safely showcase art among the local community.

On and off since 2015, the Lindemanns have looked to shed a bluff-top estate in Montauk that comprises two neighboring parcels that total about 5.9 acres and was last on the open market in the fall of 2020 with a $24 million price tag.

Tax records now show the Lindemanns have sold the larger parcel in what appears to have been an off-market deal for $12.5 million, a sky-high amount by almost any standard but a hefty $2.5 million less than the $15 million tax records show was paid for the property in 2007. It’s not clear, however, if the overall deal is valued at a higher amount; when the estate was last on the open market, in the fall of 2020, it was offered as a fully furnished turn-key residence with selected artworks included. So, if the financier buyer bought the furniture and/or any of the selected artworks, the final price could well have been higher. (Tax records indicate the Lindemanns bought the undeveloped 2.8-acre neighboring property in 2008 for $6.5 million, and, though it had been offered in tandem with the larger parcel, tax records do not currently reflect a transfer of ownership.)

The “curated” spaces, photographed before the Lindemanns’s move, are dotted with a few eye-catching artworks from the couple’s art collection.

In 2015, Lindemann paid former Gap and J.Crew CEO Mickey Drexler $50 million for Eothen, a 5.7-acre compound of rustic cottages that were once owned by Andy Warhol. Last year there were unconfirmed reports Lindemann was quietly shopping Eothen with an asking price in the neighborhood of $65 million.

The Lindemans also own a nearly 30-acre spread near Woodstock in the Catskills, where British artist Richard Woods transformed the existing residence into a funky pseudo-Tudor art piece, as well as a Beaux-Arts carriage house on Manhattan’s Upper East Side that was acquired for $6.75 million in 2004 and re-imagined by Adjaye into an eccentric house to showcase the couple’s collection.

This story first appeared on dirt.com, which features additional photographs and information on the secluded Montauk residence.