Ralph Lauren just bought a charming Hamptons home for $16 million. Here's a look inside the 4-bedroom house - and its 200 feet of oceanfront

• Ralph Lauren just bought an oceanfront home in the Hamptons for $16 million, Mansion Global reported.
• The four-bedroom home once belonged to beloved American playwright Edward Albee.
• The property includes a 2,100-square-foot main house, a guest cottage, an outdoor pool and pool house, and a tennis court.
• Albee lived in the house for more than 50 years and wrote many of his plays there.
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Ralph Lauren just dropped $16 million on a home in the Hamptons that once belonged to playwright Edward Albee.

The fashion designer went into contract on the Montauk home in December 2018, The Wall Street Journal reported. The property was listed for $20 million.

Lauren already owns houses on either side of Albee's former home, according to the Journal.

Albee lived in the house for more than 50 years and wrote many of his plays there, according to Mansion Global. Proceeds from the sale will benefit the Edward Albee Foundation, which supports writers and artists through its residency program, according to Douglas Elliman. Paul Brennan of Douglas Elliman was the listing agent for the home.

Here's a look at the Hamptons property, which includes a main house, a guest house, a pool house, and 200 feet of oceanfront.