A 10-bedroom home in the Southampton, N.Y., compound associated with Canadian art magazine publisher Louise Blouin was placed under chapter 11 bankruptcy protection this week ahead of a scheduled foreclosure auction, WSJ Pro Bankruptcy reported. The mansion is part of the two-home oceanfront compound on Gin Lane known as La Dune. The other home in the complex has already been under chapter 11 since April 2022, according to court documents filed with the U.S. Bankruptcy Court in Central Islip on Long Island, N.Y. Both are owned by entities led by Blouin, according to court papers. The two-home compound on a 4-acre lot has been on and off the market since 2016. The most recent listing price was $150 million, according to the listing website. While the two homes are located in the same complex, they can be sold separately, according to Geoff Gifkins of Nest Seekers International, which is marketing the property. Gifkins said on Friday that while he wasn’t privy to the details of the recent bankruptcy filing, he knew that the property owners have spent a “considerable amount of money over the last year restoring the properties.”
