A local source says a Richard Serra sculpture was recently installed on art dealer Larry Gagosian's lawn at Toad Hall, his 12-acre East Hampton estate on Further Lane. The sculpture will add even more cache to the already trophy property that Gagosian bought for $8 million in 1988 from Francois de Menil, who had commissioned architects Charles Gwathmey with Robert Siegel and Bruce Nagel in 1979 to create an 11,000 sq ft house. Toad Hall was built in 1983. The property features a four-lane pool, croquet lawn, tennis court, and a screening room. Gagosian happens to represent Serra, who currently has a major show at the Museum of Modern Art in New York through Sept 10.

by Deborah Schoeneman

Condé Nast Portfolio contributor Deborah Schoeneman, who is also editor in chief of Hampton Style, reports on executives in the Hamptons.