Peleton founder to sell recently purchased East Hampton home at a loss

Only months after purchasing a mansion on East Hampton’s South Fork, former Peloton CEO John Foley is putting the kibosh on it. Foley and his wife, Jill are reportedly marketing the East Hampton property, although there are no current listings for the waterfront home, and the couple is expected to take a loss on the sale.

According to The Real Deal, the couple is shifting gears on the Hamptons home that they signed a contract to buy in September 2021 and purchased in December for $55 million. The 442 Further Lane property, designed by Francis Fleetwood was on the market for less than a month before Foley went into contract. It’s 6,100-square-feet, sits on four acres, and has more than 400 feet of oceanfront with direct beach access.

The house boasts five bedrooms and five-plus bathrooms. The first floor features a master suite with his-and-hers ensuite bathrooms, a walk-in closet, and a sundeck. The second floor has additional sundecks and bedrooms with views of the ocean. It also has a gunite pool and spa, and a detached garage.

However, Peloton’s stock has been on a decline for months with shares in the company losing about 80% of its value in the past year and trading at depressed levels despite a threefold increase in revenue since the start of the pandemic.

Foley sold $50 million of shares to Michael Dell-backed MSD Partners, according to a securities filing reported by the Wall Street Journal. He also sold nearly $100 million in stock last year, but still owns enough shares to have effective control of the business.

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