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Hamptons Life

May 17, 2018 1:21 PMPublication: The East Hampton Press & The Southampton Press

West End Road Parcels Sold

24 West End Road, East Hampton.  COURTESY BESPOKE
May 18, 2018 1:49 PM

Attentive readers will recall that 27east reported in 2016 that the music and movie mogul David Geffen had sold three parcels that once comprised the Courtney Ross estate on West End Road in the Village of East Hampton. Well, two of those three parcels—#20 and #24—are on the move again. The first has sold for $6,800,000, and the second, which is vacant land, went for $17,200,000. Both were purchased by limited liability companies named for the addresses of the parcels.

A bit of background: In May 2016, Mr. Geffen purchased a property on Lily Pond Lane in East Hampton. The following month it was revealed that he had sold the West End Road estate that once belonged to the widow of Time Warner honcho Steve Ross. The announced price was $67.3 million, just over $17 million more than he had paid for it two years earlier. This helped to offset what Geffen forked over for the Lily Pond estate, which was $70 million.

Actually, the Georgica Pond estate the Ross family once owned consisted of four parcels. Separately, in 2016, 30 West End Road, the parcel with the main residence on it, was sold for $12 million. The purchaser was listed as Summerhouse30 LLC, one implication being that all four parcels could be separate transactions. Indeed, that year, 20 West End Road sold for $5.9 million (meaning the 2018 recent sale garnered a $900,000 profit), 24 West End Road for $14.1 million (a $3,100,000 profit), and 26 West End Road for $18 million to a single buyer listed as West End Lot LLC. That entity was established that year by Villadom Corp. The Nassau County company, founded in 1995 by Kouras Torkan, is a builder of commercial spaces and spec homes. One of its more recent projects was an $80 million, 390,000-square-foot commercial development on Jericho Turnpike in the Town of Huntington.

On eastern Long Island, Villadom is the builder of six spec houses that comprise the Lighthouse Landing subdivision off Route 114 in the Village of Sag Harbor. And according to a company website about Torkan, “His latest Hamptons ventures include the development and building of 22 distinct lifestyle homes in the heart of Bridgehampton’s horse country, as well as ventures in Sagaponack south.” The narrative adds, “The design features and amenities included in his homes are unmatched in the Hampton’s [sic] marketplace.”

The property at 26 West End Road has not been reported sold, so presumably Villadom is holding on to it—until, perhaps, it receives the right offer.

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