As the holiday party scene kicks off, we figured we’d give you something to talk about over the champagne. Of course, many sales close before the new year, so watch this space. Bottoms up!
The highest price so far for 2019, $39.25 million, is a smidge under last year’s highest price, $40 million. The usual suspects —Southampton, East Hampton, Water Mill, and Bridgehampton — populate the list. Interestingly, the biggest sale is in Bridgehampton, which would (if it’s still number one after the new year) be the first time a Bridgehampton property has ever topped the list.
Note: In keeping with standard practice, we included parcels of land sold as separate transactions. Three Ponds Farm, in Water Mill, sold this year in four parcels adding up to $34 million, just half of what the property had once asked, which would make it the second-highest priced sale for the year. But given the challenging market and given that the property had been listed for at least 10 years, we think it’s great it sold at all.
263 Surfside Drive, Bridgehampton
This oceanfront property sold as a new build in 2015 for a hefty $27.5 million. The property boasts 1.5 acres on the ocean, with a 7350-square-foot modern house by Barnes Coy Architects. Of course, there are numerous decks, a pool, and a walkway to the ocean. The new owner then did a $10-million-plus build that added a roof deck, a kitchen with pizza oven and bar, as well as two TV viewing areas, and an extra 6000 square feet of outdoor entertaining space. Then, he put the property back on the market in 2018, asking $42.5 million. This off-market deal was brokered by Eileen O’Neill of Douglas Elliman.
950 Meadow Lane, Southampton
Eileen O’Neill has been very busy and successful this year. She and James Giugliano of Nest Seekers International, who represented the buyer, brokered an off-market deal for 3.2 acres of oceanfront in Southampton. We looky-loos aren’t missing out on much not being able to see the interior of the house, as it’s a teardown anyway.
96 Meadow Lane, Southampton
The asking price for this property, represented by Tim Davis of Corcoran, had been $32.5 million, so it sold close to asking price: 2.3 oceanfront acres of land sold as a vacant parcel in 2005 for $10 million to a developer. And yes, you remember correctly: the spec house that was built in 2006 faced community opposition because of its size, which is more than 10,000 square feet. The property sold again in 2011 for $21.6 million. The Barnes Coy design boasts seven bedrooms and 10.5 bathrooms throughout its three levels. There are ocean views to the south and views of Cooper Pond to the north.
6 Olde Towne Lane, Southampton
The price paid for this lavish new build by Kean Development is the highest ever for a non-waterfront Southampton property under four acres. And why not? “Summer House” is the place with everything, and we do mean everything. Check it out: 23,000 square feet of living space, including a 16,000-square-foot main residence with a rooftop putting green. There’s a sunken tennis court and a pool with pool house on 3.84 acres. If it’s raining, head to the lower level with theater, gym, basketball court, and a spa with juice bar, full bath, sauna, and steam and massage rooms.
The property’s last ask was $34.95 million. Tim Davis and Gary DePersia of Corcoran represented the seller, while DePersia brought the buyer.
236 Quimby Lane, Bridgehampton
Location, location, location. This property had been the home of ballerina Sono Osato and her husband Victor Elmaleh for many years. Osato died last year at the age of 101. The four acres on Sagg Pond, with views to the ocean (and next door to Roger Waters of Pink Floyd), was the star attraction here, as we have been told the plan is to demolish the old house. The property was listed in March 2018 for $37 million, with the last ask at $34 million. Deborah Srb of Sotheby’s represented the seller. We’ll be interested to see what is built there.
7 West End Road, East Hampton
This 3.55-acre oceanfront plot was represented by Bespoke, with a last asking price of $24.5 million. It’s a slightly odd shape, with an old cottage right on the dunes, 145 feet of beachfront, and a large empty space behind. But that’s a very attractive proposition for anyone who wants to build, as the pre-existing, nonconforming cottage can be rebuilt into a beach cabana, with a building envelope capable of a main residence of up to 10,000 square feet in a FEMA X zone, which means a lower level can be built as well.
901 Scuttle Hole Road, Water Mill
This is one of the four parcels making up Three Ponds Farm — a nearly 60-acre compound with a USGA-rated 18-hole private golf course. Once asking $68 million, the property’s last ask, with Bespoke, was $49 million. The parcels together sold for $34 million: 901 Scuttle Hole Road for a hair under $21 million, with 50.6 acres; 939 Scuttle Hole Road, with four acres, sold for $6 million; 402 Mitchell Lane, with 3.6 acres, sold for $7 million; and a tiny underwater plot sold for $6016.
128 Lily Pond Lane, East Hampton
Details are sketchy about this sale, which occurred in August, as it seems to have been done off market. Well, sheesh, how much fun is that, people? Close to the ocean, the property offers 5.3 acres of land, a circa-1914 house by Albro and Lindeberg with eight bedrooms and 6.5 baths, along with a pool and a three-bedroom, five-bath guest house.
37 Lee Avenue, East Hampton
Another off-market sale. Sutton Square Management CEO Kenneth Brody sold the 2.81-acre property to an LLC back in January. That’s all we’ve got, folks.
354 South Main Street, Southampton
Beautiful “Wyndecote,” one of the original Southampton summer colony “cottages,” sold after just four months on the market this year. The property, represented by Harald Grant and Bruce Grant at Sotheby’s, had been asking $22.5 million. Hedge funder Scott Bessent purchased Wyndecote in 2012 for just under $10 million, and then hired architect John David Rose to restore it.
The house was built in 1886 by architect Robert Henderson Robertson, who also designed the Rogers Memorial Library, as his own home. The house was lifted, a new foundation poured, and a finished lower level added with gym, home theater, and wine cellar. Outside, a round pool and pool house have been built.
We messed up the top ten list of Hamptons real estate transfers a couple weeks ago. As a matter of fact, 950 Meadow Lane, Southampton, closed at $29.8 million, which should make it number 3 on the list, not 2, and 412 First Neck Lane, Southampton, closed at $22 million, which would make it number 7 on the list.