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

Nov 8, 2018 4:24 PMPublication: The East Hampton Press & The Southampton Press

Various Multimillion-Dollar Property Transactions Recorded In Water Mill

16 Wheaton Way, Water Mill.  COURTESY CORCORAN
Nov 12, 2018 9:54 AM

Looks like real estate activity in the hamlet of Water Mill is not about to sleep through autumn, thanks to a sudden spate of healthy sales. First to cite is 50 Lawrence Court, which Karen and Barry Wolf have purchased for $8.2 million.

The 5,579-square-foot house to be built on 0.91 acre has eight bedrooms and seven baths and two half-baths, and we’re told that it “will allow for interior finish customization.” With a double-height foyer, the design of this house maximizes living space with a chef’s kitchen plus pantry, great room, and an additional living room and dining room. This home also has a first-floor master suite, cabana bath, two-car garage, and the backyard includes a heated pool and spa. A covered area in the back of the property makes this a good site for entertaining.

Another recent sale is 16 Wheaton Way, with the buyer being a limited liability company. The purchase price was $5.1 million, and the new owner now has a 3,500-square-foot home on 0.97 acre with five bedrooms and four baths. Seconds from Mecox Bay Yacht Club, the shingled traditional renovated home enjoys privacy and gardens, with a heated pool and pool house amid a spacious lawn. Also part of the residential package are a great room, a formal dining room, and a gourmet eat-in kitchen. Light-filled spaces flow throughout all the rooms with plenty of neat architectural details.

We can’t tell you too much about 87 Olivers Cove Lane other than it is property only and was purchased by the Farrell Building Company for $3.8 million, so expect a busy construction site there. Another sale to mention is 138 Montrose Lane, bought by an LLC for $3.35 million. This appears to be another Farrell project, and it is expected that once construction is complete, the new home will have at least an $8 million ask. Stay tuned.

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