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Hamptons Life

Jul 14, 2017 3:22 PMPublication: The East Hampton Press & The Southampton Press

Real Estate Sales In Water Mill Continue To Impress

1285 Flying Point Road, Water Mill.  COURTESY CORCORAN
Jul 17, 2017 10:07 AM

Good grief, what hasn’t been sold for seven and eight-figure prices in Water Mill during the last few weeks? Just last month we told you about 1320 Flying Point Road, which went for $13,458,333, and 34 Bay Lane, which went for $11,250,000. Well, there’s more where that came from.

It may not be of Louisiana Purchase proportions, but another house on Flying Point Road, #1285, was just bought for $20,500,000, and the new owner is Lewis & Clark LLC. In the heady days of 2015 when this property was on the market, the ask was $30 million, so with that kind of price cut, $20.5 million must feel like a bargain.

The Flying Point manse is 3,592 square feet with 4 bedrooms and 4 baths on 1.5 acres above the dunes, and 180 feet of bulkheaded oceanfront. There are great views of Mecox Bay as well as the Atlantic. Walls of glass—some of them recede hydraulically into the floors to bring the outside in—afford views of both sunrises and sunsets. The kitchen anchors an open floor plan that includes a living room with fireplace, media room, and dining area. There are also a two-car garage, in-ground pool, pool house with fireplace, and a cabana kitchen.

Another recent sale in Water Mill was 39 Pauls Lane, this one for $10,950,000. This brand-new dwelling borders 29 acres of reserve. The house, just a tad under 10,000 square feet, has 7 bedrooms and 8.5 baths, with the master suite having a balcony offering farm-field views. Amenities include a modern chef’s kitchen, dining room with butler’s pantry, a lounge with fireplace and kitchenette, full gym with sauna, home theater with stadium seating, and a three-stop elevator, with one of those stops being the wine cellar. Of course there is a pool, with a pool house, and several bluestone patios.

And we don’t want to forget 24 Mecox Bay Lane. This beauty just sold for $9,500,000. Okay, anything left in Water Mill?

Wainscott is not next to Water Mill, but both hamlets begin with “W,” which is excuse enough for us to let you know that 64 Beach Lane has just been sold, for a nice, even $10 million, to a limited liability company named Manim AG. The 3,000-square-foot residence on 1.55 acres has 4 bedrooms and 5.5 baths and is just a third of a mile from the Atlantic. Particularly appealing are the views across open fields to Wainscott Pond.

The seller is Natalie Spencer, the widow of John Spencer, who passed away last December at age 86. After graduating from Princeton University, Mr. Spencer served in the Marine Corps during the Korean War, then embarked on a career as an international businessman that included stints in Gambia, Mauritania, Kenya, and Senegal, among other far-flung outposts. In his retirement years, often spending them in Wainscott, Mr. Spencer wrote books on his globe-trotting experiences, was a supporter of the Museum of Modern Art, and was a trustee of Middlebury College in Vermont.

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