Josh Flagg Buys Glam Hamptons Home as Famed Producer Rents This Summer

High-Profile Rental Turned Purchase in East Hampton

A high-profile rental in the exclusive Georgica estate section of East Hampton has just transitioned into a sale, marking another significant real estate move by industry insiders. David Zander, a well-known film and TV producer based in Los Angeles, is currently renting a newly constructed spec house for the summer season. However, this property has already found new owners, as reported by Gimme Shelter.

The home, which was completed last year, is now under contract for approximately $8.5 million. The buyers are none other than Josh Flagg, a prominent real estate broker and star of "Million Dollar Listing," along with his childhood friend Justin Gruenberg. This transaction marks a notable shift for Zander, who previously made headlines when he sold Lasata, a historic home associated with Jackie Kennedy Onassis, to fashion designer Tom Ford for $52 million in 2023.

Zander, who is also the president and co-founder of MJZ — a global commercial, music video, feature film, and television production company — recently made news for his $57 million purchase of Rod Stewart’s former Los Angeles mansion. The estate, spanning 4 acres, included a circa-1911 cabin on an additional 2 acres, which was sold separately for $29 million, resulting in a total sale price of $86 million.

The six-bedroom home in East Hampton, situated on half an acre, originally listed for $10.85 million and later reduced to $9.15 million. According to sources, the buyers signed a contract within a week of viewing the property. The home spans 4,400 square feet and features 1,500 square feet of covered terraces and balconies, along with a pool, a pool house, and a one-car garage.

Designed by architect Brian Glasser and built by renowned local builder Phil Kaufman, the traditional-style residence was developed by Robert Zecher’s Vault Development Partners. Notable features include a sink once used in one of Billy Joel’s homes, according to a source. Friends of Flagg have revealed that he plans to renovate the home to give it a more traditional look and add “some soul so that it looks like it has been there for 100 years.”

The interior includes a foyer that leads into a large great room with 38-foot accordion doors opening to a covered porch featuring a herringbone bluestone floor, an outdoor fireplace, automated screens, and a barbecue area. The ground floor offers a chef’s kitchen, a prep kitchen, an eat-in breakfast nook, and a junior primary suite. Upstairs, the main bedroom boasts a private balcony, while the basement houses a rec room with built-in wine storage, two guest bedrooms, and a large laundry room.

The listing was handled by Martha Gundersen and Paul Brennan. Recently, Flagg has been seen renting a property in Sagaponack, following a trip to the south of France and other luxurious destinations. He plans to celebrate his birthday with a party at the Sagaponack rental, located across from the highly anticipated General Store. Attendees will include Candy Spelling, whose former Los Angeles mansion recently sold to Google’s ex-CEO Eric Schmidt for $110 million.

Flagg’s latest Hamptons deal comes after his firm, Flagg Family Capital, partnered with Andrew Aryeh and David Elbez to acquire retail space at 170 Mercer St. in Soho. The deal closed on Christmas Eve, further solidifying his presence in the luxury real estate market.