Lavish Land

Montauk, N.Y., $50 million
Oceanfront or not, this $50 million property is still looking for a buyer. Paul Morrisey and Andy Warhol bought the land in the 1970s for about $220,000; that’s less than 1% of the $50 million asking price today. (Capital gains, anyone?) Celebrities such as Jacqueline Kennedy Onassis, Elizabeth Taylor and Liza Minelli have all stayed at Eothen (Greek for “toward the east”), as the property is called. Lee Minetree of Allan M. Schneider Associates has the listing.

[ via forbes ]