Saunders, Real Estate,

Hamptons Life

Mar 2, 2018 4:38 PMPublication: The East Hampton Press & The Southampton Press

Buyer Ponies Up More Than $10 Million For 2-Bedroom Sag Harbor Cottage

37 Glover Street, Sag Harbor. COURTESY SOTHEBY'S
Mar 4, 2018 4:10 PM

When might it be considered reasonable to pay seven figures for a cottage of just 654 square feet containing just 2 bedrooms and one bath? When it is on Glover Street, often considered to be the most desirable street in the Village of Sag Harbor. Certainly the new owner, shielded by a limited liability company, must think so, having ponied up $10,150,000 for 37 Glover.

The 0.83-acre property had been owned by the same family for 70 years. There is 170 feet of frontage on Sag Harbor Cove. In the heart of the Historic District, we’re told the original 1930-era bungalow offers “all the possibilities you have to build your dream home with tranquil views and stunning sunsets yet still be in the village. This waterfront/village combination has set some values on Glover Street in the $12.5 million to $13.7 million range, making it a great investment in Hamptons luxury real estate and one of the most compelling and desired waterfront offerings on the market today.” It can be assumed that applications are already being prepared for an anticipated expansion and renovation.

Sag Harbor has seen a perky spike of sales activity in recent weeks. Also impressive is the sale of 22 Carver Street, for $3,400,000, to Susan Acqueel. The 4,400-square-foot manse has 4 bedrooms and 5 baths. There is an open-concept first-floor living area with 15-foot cathedral ceilings, and the 0.57-acre lot is lushly landscaped.

Also catching our notice is another property in the Historic District, this one 8 John Street, which was purchased by Claxton House LLC for $2,650,000. The 1950s waterfront home offers tranquil views and stunning sunsets from almost every room. With 110 feet of new bulkhead on protected Sag Harbor Cove, this 0.42-acre property has a 1,226-square-foot residence with 3 bedrooms, 2 full baths, a wood-burning fireplace, plus a detached two-car garage and an outdoor shower. And it is just around the corner to all that Main Street has to offer. We’re advised, “Keep as is, expand, add a pool or build new in this most desirable Sag Harbor Village location.” We suspect applications are being prepared for this property, too.

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Anyone is free to overpay. Just wait and see the monster hose they put there. Possibly a Modern due to fema regs. Should fit right in....
By North Sea Citizen (520), North Sea on Mar 4, 18 5:34 AM
$10,000,000 for 2 bdrm cottage on less than an acre makes sense because it's on Glover and has water access? Yeah, you nuts keep telling yourselves that.
By SlimeAlive (1134), Southampton on Mar 5, 18 7:12 AM
Only $15,520 sq/ft, steal of a deal! Some paint and a new roof, perfect location to flip! Brokers must be laughing at that deal
By ibscharlie (5), Southampton on Mar 6, 18 2:08 PM