Slack CEO Stewart Butterfield Takes Over the Hamptons House – DIRT

Just doors down from the Atlantic Ocean, a sprawling property in Southampton, NY, has been sold for $32.2 million to Stewart Butterfield, co-founder and CEO of messaging company Slack, and Jen Rubio, co-founder and CEO of Away, a luggage manufacturer. The three-acre expanse was jointly taken over by Bespoke Real Estate and Christopher Burnside at Brown Harris Stevens, while Harald Grant of Sotheby’s brought in the buyers.

Architect Grosvenor Atterbury designed many well-known homes and museums in the Hamptons, as well as the American Wing of the Metropolitan Museum, and he designed this home in 1910. With a brick facade and slate roof, wood paneling Dark interiors and a vintage charm, this is the epitome of a classic Southampton estate, from the leafy lawns to the rambling old house.

There was a mad rush for the property, which went on sale in 2007 for $24 million. The domain spent the next eight years on and off the market, usually with prices falling, and was finally sold in 2015 for a heavily discounted $15 million. Then, in 2019, the house was sold, for $11.6 million, to David Walentas, the billionaire real estate developer who transformed Brooklyn’s Dumbo neighborhood from an industrial wasteland into an upscale neighborhood of lofts, apartments, and more. office buildings and trendy shops.

Walentas quickly ripped off all the vintage charm of the old house and replaced it with a modern, minimalist interior. Because 14,000 square feet was not big enough, he also expanded the house to 17,500 square feet. The home now has 11 bedrooms, a dozen bathrooms, plus two more powder rooms, plus a new sunroom that has been staged for the sale process as a gym/yoga studio. The old swimming pool and the pool house have been removed and new ones built closer to the house. A tennis court and a four-car garage were also added, topped by a two-bedroom apartment for guests or staff.

According to a quote from the Wall Street Journal, which was first to report the transaction, Walentas says it spent $10 million upgrading the home before listing it in April at $35 million. When the acquisition and renovation costs are combined, the sale price nets the savvy developer a profit of approximately $10 million, which Walentas will donate to the University of Virginia, his alma mater, as part of his commitment to donate $100 million to the school.

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