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Hamptons Life

Nov 10, 2017 5:01 PMPublication: The East Hampton Press & The Southampton Press

No Sag In Sag Harbor Real Estate Prices

173 Redwood Road, Sag Harbor COURTESY SOTHEBY'S
Nov 12, 2017 3:28 PM

There’s been no sagging of real estate prices in Sag Harbor, judging by several recent transactions. The village and its immediate surroundings appear to be weathering the change of seasons quite well.

At $2,625,000, 47 Terry Drive is the least of three Sag Harbor transactions reported last week, but of particular interest. One reason is its controversial recent past. The property is one of more than a dozen that the uber-attorney Bruce Bronster purchased in recent years in the traditionally African-American neighborhoods in the village. He filed for numerous variances to allow older houses to be torn down and replaced by new, modern structures. The Terry Drive property was one of the first out of the pipeline. The existing structure on the 8,000-square-foot parcel was taken down and carted away, and in its place a 2,700-square-foot dwelling was constructed, accompanied by a swimming pool on a bay-facing bluff. Some neighbors protested, but the project went ahead, and now the property has been sold.

The new owners are George Spadoro and Christine DeSimone. Mr. Spadoro is a senior partner at a law firm in New Jersey. Previous to that, he served three terms as mayor of Edison and two terms in the New Jersey General Assembly.

The award for highest price paid in Sag Harbor, of those reported last week, goes to 173 Redwood Road. In a hot village, this has been one of the hottest streets of late. The new owner, a limited liability company called Tightlines Partners, paid $4,375,000 for a 4,000-square-foot house with 5 bedrooms and 5 baths. The western exposure offers both a water view and lovely sunsets—which, alas, are coming earlier and earlier this time of year. The property also has a heated in-ground pool, pool house, and detached garage.

Snug in the middle of the previous two properties price-wise is 15 Sims Drive, which was sold for $3,500,000 to another LLC, this one called Blue Swann. It has 4 bedrooms yet only 1 bath. With the parcel being just shy of an acre, one can expect that expansion plans are being developed, though the present dwelling is a robust 3,000 square feet.

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