Vitamin Shoppe founder cuts Hamptons home price again to $79 million
Jeffrey Horowitz founded The Vitamin Shoppe in 1977.
The short version
- He slashed his Sagaponack estate price to $79 million.
- It first listed off-market for $125 million.
- The eight-bedroom home sits on three and a half acres.
Jeffrey Horowitz, who founded The Vitamin Shoppe, is dropping the price on his massive Hamptons estate yet again. The Sagaponack property at 21 Fairfield Pond Lane is now listed for $79 million, according to the New York Post. That is a steep drop from when the property was first pitched off-market at $125 million.
The Horowitzes bought the three-and-a-half-acre property in the mid-1990s for $2.7 million and built the estate in 1998. The eight-bedroom main home spans 9,000 square feet, which works out to $8,777 per square foot. The sprawling property includes an outdoor pool, a video game arcade, private access, and a nine-hole golf course overlooking Fairfield Pond on a separate parcel.
Buyers who only want the main house can grab it for $75 million on its own. Terry Cohen of Compass, the nationwide real estate brokerage, defended the price tag, saying his team supported comps for similar compounds at $79 million. The family decided to sell because their children are all grown up now.
Horowitz ran The Vitamin Shoppe for a quarter-century before selling it to Bear Stearns, the Wall Street investment bank, in 2002 for $300 million. He later served as an executive at Vitacost.com, which was acquired by Kroger, the supermarket chain, a decade ago.
Meanwhile, overall prices in the Hamptons slipped during the third quarter according to data from Miller Samuel, the real estate appraisal firm, and Streetmatrix. For anyone watching luxury real estate, even the people who made a fortune on vitamins are feeling the pinch when it is time to cash out.
