Stephen Siegal Buys On Sag Harbor's Shaw Road, Again

Jul 9, 2017 2:31 PM

When Stephen Siegel and his wife, Wendy, bought 25 Shaw Road seven years ago for $13,700,000, it was at that time the priciest property in Sag Harbor. Its features included a 50-foot heated swimming pool and 200 feet of private beachfront. Understandably, the recent purchase of 20 Shaw Road by the couple for $2,020,000 won’t cause as much of a stir, but it does represent a further investment in a street that is either the gateway to the Azurest neighborhood or to the western half on the village, depending on where you are coming from.

Sited on nearly an acre of rolling lawn and a few feet to the public Havens Beach, this cottage offers a comfortable home to enjoy just the way it is or to re-develop and expand. For now, there are 3 bedrooms and 2 baths in 1,644 square feet. There is space to add a pool and gardens. The single-level home offers a spacious, sunny living room with wood-burning fireplace, a formal dining room, eat-in kitchen, master bedroom en suite, and 2 guest bedrooms with full bath. There are hardwood floors, loads of natural light in all living spaces, and a full basement with bath and garage. The Siegels can now relax and enjoy a barbecue on the landscaped enclosed patio.

While Stephen Siegel might not necessarily be a household name, likely he is in East Coast real estate circles. At only 17, the Bronx-born Mr. Siegel took a job as a broker with the real estate firm Cushman & Wakefield. Today, he is chairman of Global Brokerage at CBRE, the world’s largest commercial real estate services company. Along the way, his bigger deals included negotiating the Gucci Group’s lease at Trump Tower in Manhattan and working with Hudson Waterfront Associates on the acquisition of 1290 Avenue of the Americas for $1.25 billion, which was then sold at a profit only a year later.

Among Mr. Siegel’s accomplishments outside of real estate are being on the board of directors of the Jazz Foundation of America, Crohn’s & Colitis Foundation’s “Man of the Year” Award, the Foundation Fighting Blindness Humanitarian Award—and expanding his footprint on Shaw Road in Sag Harbor.