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Land sakes! There has been some big-bucks land activity in the Village of Southampton reported this past week that will probably result in construction crews kept busy.
The property at 477 Little Plains Road has been purchased by a limited liability company for $14 million. Technically, it is not vacant land because there is an older dwelling on it—a 6,500-square-foot house with seven bedrooms and six baths. The property is a large one, at 4 acres, and the residence takes up just a fraction of that. As Brown Harris Stevens advised prospective buyers, “Situated in one of the most coveted locations in Southampton’s legendary estate section, this is the first offering of a rare opportunity to create a significant estate and compound a mere 200 feet from the ocean.” The property features rose gardens, specimen plantings, sweeping lawns, meandering pathways, and an outdoor dining pavilion. The existing structure, which is dated from the 1980s, “can be transformed into a large manor estate with swimming pool, tennis, pool house, and other sizable structures,” BHS said. Well, get to work!
Though a different LLC is listed as the purchaser, an adjacent 10-acre vacant property was also just purchased for an even $10 million. So, if you find yourselves on Little Plains Road in the near future, watch out for advancing bulldozers.
Interestingly, the same can be said for another parcel in Southampton Village. The 2-acre lot at 261 Great Plains Road has been sold to an LLC for $7.1 million. One can assume this property will sprout a handsome estate. The seller was Laura Maioglio, owner of Barbetta—the restaurant that has been a fixture in the New York theater district for more than a century.
One other Southampton sale, this one outside the village boundaries, is worth mentioning because it makes you wonder what kind of last-minute negotiating was going on. There is a new owner—yet another LLC—of 76 Peconic Bay Avenue, and the purchase price of the 0.51-acre property was $5,129,800.
“A newly completed renovation combined with a dramatically beautiful setting makes this home uniquely compelling,” Saunders & Associates said. “This home is perched on Peconic Bay, and viewed from your back porch and substantial backyard, protected by a rock revetment, and showcased from the windows of many rooms, is a glorious panorama of sea and sky.”
The two-story home offers four bedrooms and four baths, as well as open living areas, a sunny breakfast area and pantry, a formal dining area facing the water, and a waterview living room with custom cabinetry and two sets of pocket doors for privacy. A den overlooking the pool could become a fifth bedroom, and there is also a full bath on this level. Upstairs the elegant master suite has breathtaking water views. There are three additional bedrooms—one en-suite and two sharing a bath.
on Aug 7, 2018