Ralph Lauren is making a fashionable buy in the Hamptons. The preppy-clothing fashion mogul has entered contract to purchase late playwright Edward Albee’s oceanfront home in Montauk, sources tell the Wall Street Journal. Albee’s property had been listed for $20 million. The contract price isn’t clear, but the deal expands Lauren’s presence in the popular East End town. Lauren owns property on either side of Albee’s, the latter of whom purchased it in the 1960s following the success of his popular play “Who’s Afraid of Virginia Woolf?” the Journal notes. Albee wrote his Pulitzer-winning “Seascape” at the home, where he lived part-time until his death in 2016. Albee’s three-acre spread has space for a 2,100-square-foot, three-bedroom main house, a guest house and a pool house. Fittingly, there’s also a pool and a tennis court. A company linked to Lauren bought one property next to Albee’s for $12.5 million in 2013. The designer has owned the other since at least the 1990s. Douglas Elliman’s Paul Brennan had the listing for Albee’s spread.