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Real Estate Center

Sep 24, 2012 9:00 AMPublication: The East Hampton Press & The Southampton Press

Biggest Sales of 2012 So Far

Sep 24, 2012 12:30 PM

In the East End housing market, the year is still young.

There are a few deals brewing—including the Linden Estate in Southampton, which was last listed for $49 million, and is rumored to be closing. But for the most part, the 10 biggest sales of 2012 have landed.

322 Meadow Lane


$28.5 million

Marc Rowan, co-founder of Apollo Global management and currently listed as number 311 on the Forbes 400, formerly owned this 9,000-square-foot, six-bedroom, traditional manse on 2.3 acres featuring formal gardens, a heated pool surrounded by limestone terraces, a covered outdoor dining area and a private path to the ocean.

The interior, designed by architect Will Schulz, boasts floating staircases, a library, formal dining room and a master suite with an oceanfront balcony and fireplace.

According to reports, the home sold to Carlos Alejandro Pérez Dávila, a managing director of Quadrant Capital Advisors, in April.

174 Further Lane

East Hampton

$28 million

April was a successful month in East Hampton, too. It also saw the closing of this 7,500-square-foot, seven-bedroom, contemporary

oceanfront home, which comes with its own observatory. The 3.5 acres feature a heated, oceanside infinity pool, tennis court and private beach access.

Originally built in 1997 and designed by James Merrall Architects, the interior is bright and airy with glass walls opening to the outdoors.

Before the sale, a “mystery banker” reportedly owned the house, which sits on the same street as the homes of comedian Jerry Seinfeld and designer Helmut Lang.

43 Surfside Drive


$27.25 million

In March, this nine-bedroom, oceanfront, modern manse came back on the market. Three weeks later, it was sold, making it one of the quickest sales of 2012.

The sale is a reported trade from the Pamela Schein Trust to 43 Surfside LLC. The street’s residents include advertising executive Donny Deutsch and the road is known as the setting for the USA network show “Royal Pains.”

30 Lee Avenue

East Hampton

$25.75 million

Also in the running for quickest sale of the year is the Charles H. Adams estate, which found a buyer a little over a month after it hit the market last November. And it sold for $1.25 million more than its asking price. The house was in contract in January and the sale closed in early 2012.

Built in 1891, this 14,000-square-foot, 14-bedroom, restored home was designed by Carnegie Hall architect William B. Tuthill and retains much of its original architecture, including six period fireplaces, wood flooring, glass-leaded windows and grand staircase.

8-9 Five Rod Highway


$25 million

The original $57 million price tag on this 14.6-acre property could have sealed its title as the largest sale of 2012 for the entire East End, but even its final closing price—$25 million, less than half the original listing—makes it the second-biggest sale the hamlet of Wainscott has ever seen.

Home to a 21-stall horse barn, storage barn and workshop, the land was formerly operated as family-run horse farm. Although some of the buildings may remain, speculation suggests that the construction of larger homes is inevitable.

171 Great Plains Road


$24 million

This 17,000-square-foot, nine-bedroom home, known as “Beechwood,” also holds a record—this time as an inland sale—though it is a huge step down from its original $38 million asking price.

Inspired by the allée of 200-year-old beeches on the 4.5-acre estate, architect Francis Fleetwood re-created an English country manor home that blended into its surroundings and maximized the views of the trees.

“The goal was to make it look like it had been there for a long time, as opposed to something that looked out of place and brand new,” Corcoran listing agent Tim Davis told the New York Times last year. “This house is of considerable size, but you don’t have that out-of-place feel. When you see it, it is actually very understated. The rooms feel intimate, and never too big.”

6 Gracie Lane

East Hampton

$20 million

The 9,000-square-foot, eight-bedroom home with deeded beach access at 89 Lily Pond Lane was built in 1912 as John F. Erdmann’s vacation home. The property, which also includes two guest cottages and a heated pool, was once featured in O, The Oprah Magazine.

This past winter, a “well-known person in certain interests” moved into contract on the house, according to listing agent Ami Schulman, though she reportedly added that the buyer was not in the finance industry. Ms. Schulman’s family formerly owned the house.

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