Josh Flagg is in contract to buy an East Hampton home

Film and TV producer David Zander, an LA-based buyer of pricey and historic homes, is renting a new-construction spec house in East Hampton’s tony Georgica estate section for the summer season, Gimme Shelter has learned.

What’s more, Zander’s rental, which was completed last year, has also just found some new owners. Real estate broker and “Million Dollar Listing” star Josh Flagg, and his childhood friend Justin Gruenberg, are now in contract to purchase it, as first reported by TMZ. The two are in the works to buy the home for around $8.5 million, sources said.

Zander is president and co-founder of MJZ — a global commercial, music video, feature film and television production company. He was last in Hamptons headlines when he sold Lasata — where Jackie Kennedy Onassis spent her childhood summers — to fashion designer Tom Ford for $52 million in 2023.

Zander was also recently in the news earlier this year. In April, he paid $57 million for Rod Stewart’s former LA mansion, on 4 acres. Another part of the estate including a circa-1911 cabin on 2 acres was sold separately for $29 million, bringing the total sale price to $86 million.

Zander could not be reached at press time.

The six-bedroom home, on half an acre, first hit the market last year for $10.85 million. It last asked $9.15 million. The buyers signed a contract within a week of seeing the house, sources said.

At 4,400 square feet, the property comes with 1,500 square feet of covered terraces and balconies — along with a pool, a pool house and a one-car garage.

The traditional-style residence was designed by architect Brian Glasser, built by renowned local builder Phil Kaufman and developed by Robert Zecher’s Vault Development Partners. The home has standout touches, like a sink that was once in one of Billy Joel’s homes, a source said.

Friends, however, tell Gimme that Flagg plans to renovate the home to “make it look more traditional” and give it “some soul so that it looks like it has been there for 100 years.”

The dwelling opens to a foyer that flows to a large great room with 38-foot accordion doors leading to a covered porch with a herringbone bluestone floor, an outdoor fireplace, an automated screen and a barbeque. 

Inside, the ground floor features a chef’s kitchen, a prep kitchen, an eat-in breakfast nook and a junior primary suite. Upstairs, a private balcony graces the main bedroom.

Downstairs, there’s a rec room with built-in wine storage, two guest bedrooms and a large laundry room.

Its listing brokers were Martha Gundersen and Paul Brennan. 

This month, Flagg is renting in Sagaponack, after returning from a trip to the south of France and other glamorous locations, as per his Instagram. Flagg plans to celebrate his birthday with a soirée at the Sagaponack rental, across from the much-hyped General Store. Guests slated to attend include Candy Spelling, whose former LA mansion just sold to Google’s ex-CEO Eric Schmidt for $110 million.

Flagg’s Hamptons deal follows Flagg Family Capital’s purchase, with partners Andrew Aryeh and David Elbez, of retail space at 170 Mercer St. in Soho. The deal closed last Christmas Eve.