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Hamptons Life

May 25, 2018 9:19 AMPublication: The East Hampton Press & The Southampton Press

Katie Lee's Home Among a Bevy Of High-End Sales In Water Mill

Katie Lee's Water Mill home at 186 Little Noyac Path has sold.  COURTESY SAUNDERS
May 28, 2018 9:53 AM

If a meeting was to be held at the Water Mill Community House for new homeowners in the hamlet, the place would be packed. In recent weeks, there has been a flurry of activity at the high end, with prices paid ranging from mid-seven figures to eight figures.

We often begin with the biggest transaction, but an exception this time is reporting the sale of 516 Little Noyac Path, which went for a considerably smaller $2.16 million. It was sold by the estate of Ed Victor, who until his passing in June 2017 was one of the more high-profile agents in the book publishing industry. Many of his authors were contemporaries of Tom Wolfe and Philip Roth, both of whom recently died. When not in Water Mill, Mr. Victor and his wife lived in London. At New Year’s Honours in 2016, he was appointed commander of the Order of the British Empire for his services to literature.

The biggest deal reported recently in Water Mill was 86 Bay Lane, which closed at $18.37 million. Sited down a tree-lined drive on more than 4.5 landscaped and gardened acres, this property has 300 feet of west-facing waterfront on Mecox Bay, a private dock, and access to ocean beaches by motorboat. The all-weather tennis court, in-ground heated pool, gardens, and a groundskeeper cottage all take advantage of the waterfront vistas. At the front, a large gravel expanse leads to the columned front door, through which the double-height entry hall provides direct views to the back lawn and bay. The living room with fireplace flows around to the den with built-in bar. Opposite, the dining room features a built-in service bar, which is a miniature replica of the residence’s front facade. That opens onto a covered outdoor dining patio. The adjoining kitchen includes an island and breakfast area. An office off the kitchen occupies the ground floor of a cupola. Residential space totals 6,100 square feet.

Also, 39 Bay Lane just sold for $5.5 million. The seller is Peggy Amster, widow of Arni Amster, who had been a part-time resident of Water Mill since 1981 and settled there full time in 2002. He was a mathematician with a degree from New York University’s Courant Institute. Early in his career, he worked on software for the defense industry and the ascent engine for the first landing on the moon. He then changed direction for a career on Wall Street, doing risk arbitrage for several firms before starting his own boutique arbitrage firm, Amster & Company. On the 1-acre property is a recently renovated five-bedroom, five-bathroom home with heated pool surrounded by mature landscaping. The 4,700 square feet of living space includes a private master suite and office area with captivating vistas over a reserve, a large kitchen, a family TV room, and great entertaining spaces throughout.

Another handsome sale in the hamlet was 10 Deer Run, which, apparently after back-and-forth negotiations, was purchased for $4.64 million. This new traditional-style home features 7,000 square feet of living space with eight bedrooms, including first- and second-floor master suites, as well as eight-and-a-half baths, a grand gourmet eat-in kitchen, a great room with fireplace, a living room with fireplace, a dining room, a butler pantry, a wine cellar, a gym, a recreation room and a sauna. Outside is a heated saltwater pool with spa, built-in barbecue, stone patios, and lush landscaping.

At 186 Little Noyac Path, even tougher negotiations sold well-known chef Katie Lee’s home for $4.93 million. This gracefully gabled 6,700-square-foot home on a just-shy 2-acre parcel provides “a tranquil retreat,” and probably plenty of cooking fun. Ms. Lee, hiding her identify behind Peach Creek LLC, sold to another LLC. Among the amenities to be enjoyed by the new owner are a full outdoor kitchen and dining area beneath a wisteria-covered pergola with stone counters, professional pizza oven, Wolf barbecue, and refrigerator. In the spacious formal living room is a fireplace, fully outfitted wet bar, plenty of seating, and French doors to outdoor living areas. An informal dining area flows to the chef’s kitchen with high-end stainless-steel appliances, and extensive soapstone countertops providing ample workspace. The adjacent butler’s pantry contains additional appliances and prep areas.

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