The rise and fall of art magnate Louise Blouin


As the company struggled, she took advantage of the Hamptons property. The limited liability company associated with the main house, 376 Gin Lane, received a $15 million loan from Morgan Stanley in 2011, according to public records. Around the same time, the second home, 366 Gin Lane, received an $8.5 million injection from Wells Fargo.

In 2016, Blouin launched La Dune on the market. Sale price: 140 million dollars. When there were no takers, he agreed to take another $26 million in loans from a lender, JGB Management.

In the following years, due to high interest, the amount he owed JGB increased to $36 million. In the fall of 2021, JGB sued Ms. Blouin and attempted to foreclose on La Dune.

Around the same time, the IRS informed Ms. Blouin that she owed six years of unpaid payroll taxes and penalties from Louise Blouin Media and another company she owned, ArtNow. In 2021, agents provided him with invoices totaling more than $10 million, court records show. Ms. Blouin responded in a sworn statement that she should not be held responsible for the debt.

“At some point, I was a shareholder,” Blouin said in the affidavit. “While one of the companies bears my name, I was never a director, manager or employee.” Undeterred, the IRS placed liens on the two Gin Lane properties, totaling at least $4.7 million, according to Ms. Blouin’s court documents.

In 2022, it hired Bay Point Advisors, which assumed the JGB Management loan. He then assumed the Morgan Stanley loan debt, which had not yet been paid off.

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