Wooldon Manor at 16 Gin Lane in Southampton and the surrounding expanse of land are on the market for $98 million—a rare real estate transaction on the South Fork that could approach the nine-digit level.
“This historic Gin Lane oceanfront estate is the ultimate private and luxurious retreat,” says a listing on Corcoran’s website. “Panoramic views extend from sunrise over the Atlantic Ocean to sunset over Lake Agawam.”
The 10,000-square-foot house was built in the early 20th century by the architectural firm Treanor & Fatio, which also designed homes for the Vanderbilts and Rockefellers. According to a Sotheby’s listing, the 14.5-acre property also includes four building lots. Corcoran notes that the mansion alone can be picked up for $48 million along with approximately 5.25 acres on which it rests.
The mansion was owned by the Woolworth family and Edmund C. Lynch, a founding partner of Merrill Lynch. It was purchased in December for $75 million by Scott Bommer of hedge fund SAB Capital Management from Vince Camuto, the shoe designer. According to The Wall Street Journal, Mr. Bommer is in contract to pay nearly $94 million for three properties on Lily Pond Lane in East Hampton.
Last December’s sale of the Gin Lane property was said to have fetched the highest price among 2013 sales in the Hamptons.
on Apr 28, 2014