Peloton Founder John Foley Sells One East Hampton Home and Drops $55M on Another
Peloton has been on a rough ride lately. The company’s stock took a steep dive in November 2021 and has mostly continued to decline since. CNN reported just this week that all options are on the table for them, even layoffs and production changes. As CEO and founder John Foley works through the brand’s ongoing issues, he is doing so with certain personal matters and transactions recently settled.
Within the last two months, the executive sold his modern farmhouse home in East Hampton for over the $4.45 million asking price and dropped $55 million on an oceanfront estate in the same tony town. Talk about an upgrade.
The Real Deal reports that the Further Lane property first seeking $52.5 million went into contract back in September. Now that it’s revealed Foley is the buyer of the estate, which closed in December, it all clicks since he listed his more modest but still amply luxurious home nearby in November.
The ink is still drying on these deals, but the difference between the East Hampton properties is night and day. At 12 Koala Lane, Foley’s now-former Northwest Woods home, light and bright contemporary style reigns along with six bedrooms, breezy open living spaces, a wine cellar, and a pool. The 2.17-acre spread feels fresh, trendy, and family-oriented, evening boasting a half-basketball court.
Offering ocean views and roughly double the acreage, the Further Lane estate has less bedrooms, but a more classic, shingle-style Hamptons look. It also holds more spaces for outdoor living, with sun decks upstairs and multiple patios on the main level.
Both alluring in their own ways and at their vastly different price points, these properties changed hands in plenty of time for the new owners to ready for the summer season.