What a Hamptons headache Peloton founder John Foley and his wife, Jill, must be having!
The couple are quietly shopping their sprawling East Hampton oceanfront estate at a loss. Is it a case of buyers’ remorse? They had bought the 4-acre spread, at 442 Further Lane, last December — for $55 million, which was $2.5 million over the home’s asking price. It was one of the priciest East End sales of the year.
At the time, Peloton stock shares had already started to tank. First, Peloton stock dropped after people emerged from lockdown and returned to the gym. Then the brand just, well, spun out of control.
Chris Noth’s character, Mr. Big, dropped dead while working out on a Peloton in “Sex and the City’s” sequel. Next, Peloton hired Noth to boost the brand — then dropped him following sexual assault allegations by two women.
Last December, when the Foleys bought the estate, stock options were down 75% since the start of 2021. A month earlier, in November, the Foleys had also listed for sale a more modest beach house at 12 Koala Lane in East Hampton for $4.45 million. (They had bought it for $2.9 million in 2016.)
The home sits on 4 acres of Hamptons real estate.HandoutThe mansion’s backyard pool area.HandoutA patio area at the 6,100-square-foot East End mansion. HandoutThe Koala Lane home closed for just over ask last January. It’s now back on the market with Craig Beem of Compass, as a summer rental, asking $125,000 for the month of July.
At 6,484 square feet, the six-bedroom compound features a chef’s kitchen, home gym and a finished basement with a 1,500-bottle, temperature-controlled wine cellar.
The $55 million beach mansion, by contrast, is slightly smaller at 6,100 square feet. But it sits on 4 acres, including 400 feet of oceanfront.
Designed by Francis Fleetwood, the five-bedroom home boasts a chef’s kitchen and multiple sun decks that showcase the views.
Outside, there’s a covered sitting area, lush landscaping and direct access to the beach. Mr. Foley did not return calls at press time.