Michael Rubin, the billionaire founder and CEO of Fanatics, is reportedly in contract to purchase a Hamptons mansion located next door to his existing beachfront property in Bridgehampton. The asking price for the traditional home was $42.5 million.
The deal is for a property on Dune Road, adjacent to the modern mansion where Rubin hosts his annual high-profile White Party. The seller of the in-contract property is a family foundation associated with New York real estate figure Donald Zucker. While the transaction has not yet closed, Rubin has negotiated temporary use of the house for a week during the upcoming White Party, reportedly for security purposes.
The newly acquired residence, built in 1994, is described as a classic shingled home designed by Francis Fleetwood. It sits on a 3.1-acre lot with 300 feet of oceanfront and private beach access, making it one of the larger parcels on the street. The home features five bedrooms, 5.5 bathrooms, an elevator, a chef's kitchen, and living spaces with ocean and bay views.
Rubin purchased his current Hamptons property in 2020 for $50.1 million. His White Party has become a notable event, attracting celebrities such as Snoop Dogg, Martha Stewart, Teyana Taylor, Tom Brady, and Jay-Z. Fanatics, Rubin's company, is projected to generate $13 billion in revenue this year.