Michael Rubin may buy $42.5m Hamptons home next to White Party estate

Fanatics CEO Michael Rubin is reportedly buying a $42.5 million Hamptons mansion next to the Bridgehampton estate where he hosts his star-studded White Party

Fanatics founder and CEO Michael Rubin is reportedly set to expand his Hamptons property portfolio. According to the New York Post, the billionaire is in contract to purchase the oceanfront home next to his Bridgehampton beach mansion for an asking price of $42.5 million.While the deal has reportedly not closed yet, the final sale price remains undisclosed.The property, located on Dune Road in Bridgehampton, is being sold by a family foundation linked to New York real estate developer Donald Zucker.

Image credits: Saunders & Associates

Jennifer C. Wilson of Saunders & Associates, who listed the property, described it as "an iconic Hamptons home.""It's an iconic Hamptons home. It's traditional, old school and very beautiful," Wilson told the New York Post.

She declined to comment on the identity of the buyer.

Home used during Rubin's White Party

Although the sale is still pending, Rubin reportedly negotiated temporary use of the property during his annual White Party earlier this month. According to a source quoted by the publication, the home was used by the event's security team rather than for accommodating guests.Rubin hosted his celebrity-packed White Party at his neighbouring beachfront mansion, with guests including Snoop Dogg, Jay-Z, Tom Brady, Martha Stewart and Teyana Taylor.

A classic Hamptons estate

Built in 1994, the residence was designed by renowned architect Francis Fleetwood and sits on 3.1 acres with approximately 300 feet of private ocean frontage and direct beach access."It's one of the biggest lots on the street," Wilson said.

Image credits: Saunders & Associates

The property spans approximately 4,200 square feet and features five bedrooms, 5.5 bathrooms and an elevator. The main level includes an open-plan chef's kitchen and living area with expansive ocean and bay views, along with a bedroom suite featuring a sitting area, spa-style bathroom and private terrace.Upstairs are four guest bedrooms, each with an ensuite bathroom. Outdoor amenities include a swimming pool, summer kitchen, pool house with a wet bar and bathroom, as well as an outdoor shower.

Image credits: Saunders & Associates

What are Rubin's plans?

Rubin has not publicly commented on the reported acquisition. However, according to a source quoted by the New York Post, he is expected to retain the home in its current form for now."For now, he's going to keep the home the way it is. But he may want to build a larger home on the property more in line with his current home in the future," the source said.Rubin purchased his existing neighbouring oceanfront estate in 2020 for $50.1 million. The mansion has since become the venue for his annual White Party, one of the most exclusive celebrity gatherings in the Hamptons.His sports merchandise company, Fanatics, is reportedly expected to generate around $13 billion in revenue this year, according to published reports.