Also, Meadow Lane residence sells for about $35 million

Halsey Summer Cottage For Sale

Built in 1894 by Stephen Bolles Halsey and his wife, Adelia VanWyck Vandervoort, as a summer residence, 76 Daniels Lane in Sagaponack is rich in history. The seaside escape from the Halseys’ primary home in Astoria, Halseycot is one of the few still-existing examples of the village’s deep roots and transformation from fields of potatoes and farms to one of America’s most expensive ZIP codes. The Halsey homestead is also one of the significant residences of a family with links dating back to a handful of New York founding fathers.

Stephen Bolles Halsey descended from Thomas Halsey, who helped to settle Southampton, and Josiah Stanborough, the first settler in Sagaponack. Halsey’s father, Stephen Alling Halsey, is reputed to be the founder of Astoria, which he named after his friend, John Jacob Astor.

Only half a mile to Gibson’s Beach, until recently the mostly untouched homestead, which withstood the great Hurricane of ‘38, had ocean views from every room except the upstairs bath. The residence and its “twin sister,” the Topping House at 791 Main Street, are often referred to as the last original houses left standing in Sagaponack. The 2346-foot classic shingle-style home features a wrap-around porch, six bedrooms, two-and-a-half baths, and a fireplace, and is sited on 1.4 acres. Bordering a 16-acre reserve, the property also comes with mature trees, an antique circa-1900 barn, and two separate one-story outbuildings. Paul Brennan and Martha Gundersen of Douglas Elliman have the listing, and it’s under $8 million.

$35 Mil On Meadow Lane

If you want to live on one of the most prestigious streets in the world, you pay up, if, for nothing else, but to keep the riff-raff out. Consider 950 Meadow Lane, in Southampton, which sold last week, for about $35 million. The final number has yet to be disclosed, but be sure it’s up there among the biggest deals of the year.

For that price, you get an elegant 2878-square-foot house sitting on 3.2 acres of oceanfront beauty — and there is no amount that can measure that value. There’s a pool and tennis court, of course. The buyer came via Douglas Elliman; James Giugliano of NestSeekers had the listing.

Market Watch

The Long Island Housing Market is booming, but here on the East End, the opposite trend is occurring. The number of sales declined year over year for the seventh straight quarter and inventory continued to rise, reaching a 13-year high, according to a report released by Douglas Elliman. That’s double trouble — it means asking prices are being lowered and buyers are still unwilling to enter the market.

The malaise runs through all the market segments: The third quarter saw the fewest number of sales at or above $5 million in six and a half years. There have been nine straight quarters of annual increases in luxury listing inventory, despite the most substantial luxury listing discount in more than four years. In fact, according to Elliman, listing inventory jumped 76.9 percent to 2571.