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Timothy Hill, Gala, Benefit, Ranch, Riverhead
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Hamptons Life

Jan 9, 2018 5:05 PMPublication: The East Hampton Press & The Southampton Press

Recorded Olde Towne Transfers Were Not Sales

Summer House in Kean Development's Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT
Jan 9, 2018 5:23 PM

We recently reported on two sales next door to each other on Olde Towne Road in Southampton, and were curious about the sale prices. We wondered, “Inquiring minds want to know.” Now we know!

According to John C. Kean, the CEO of Kean Development Company, “There have been no recent sales to the public at Olde Towne. The transfers you’re seeing are strictly internal as we paid off a mortgage and I took full control of the properties with no mortgage. The properties are still on the market through my brokers at Douglas Elliman, Corcoran, and Sotheby’s.”

So, bottom line is, the two properties in question are still for sale. One is 6 Olde Towne Road, dubbed Summer House, with a price tag of $35 million. It’s a magnificent property consisting of a 9-bedroom, 14.5-bath, just-constructed house on 3.84 acres. The 23,000-square-foot residence and pool house has such amenities as staff quarters, exercise room, finished basement, formal dining room, a great room, spa, library, and media room. There is also an in-ground pool next to the pool house. And don’t forget the rooftop putting green and the subterranean basketball court. The brand-new mansion at 6 Olde Towne Lane was featured in an episode of CNBC’s “Secret Lives of the Super Rich.”

Also on the market is the property at 4 Olde Towne Lane, a 3.88-acre vacant lot, with an ask of $10 million. If either one of these Southampton properties looks appealing, give one of those agencies a shout.

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