Pool, Casual Water

Real Estate Center

Transaction Highlights, April 26

Publication: The East Hampton Press & The Southampton Press
By Phelan Wolf, Esq.   Apr 23, 2012 2:30 PM

36 Westbridge Road
Westhampton Beach $5,500,000

This house is one of the highest-priced homes to sell in Westhampton Beach over the last year.

While a $5 million budget sometimes buys nothing more than a vacant lot in the some of the best South Fork locations, in Westhampton Beach it can buy a premier location and loads of amenities. Very few homes are on the market in this price range in that area.

This 5,000-square-foot home was built in 2001. It has an imposing entry courtyard and Italianate post-modern façade with columns, walls, porches and a rounded portico. Inside there is a double-height great room, big kitchen, 5 bedrooms, and 4½ baths, with plenty of chandeliers, elaborate sconces and gilded tile and fixtures.

The lot is one of the very best in Westhampton Beach. It has .88 acre of bayfront land and is just south of the village center, at the end of a small cul-de-sac with only a few large homes.

The 260 degrees of frontage is completely protected by bulkhead, with marina-style boatslips and two boat lifts. The waterfront can be viewed from throughout the interior of the house, and even more expansively in the backyard, which has an enormous patio and pool, as well as a large pool house with kitchenette.

There seems to be a ready market for the highest-priced homes throughout the East End these days and this property is no exception. There are few properties with better locations in Westhampton Beach than this one, and even though its price was a stretch for this market, it sold almost immediately, after being listed for $6.5 million at the end of February.

This property last sold for $600,000 in 1994, with a tear-down house. Assuming this new house cost $400 per square foot to build, plus another $1 million for pool, patio, driveway, landscape, pool house, etc., this transaction values the improvements on this property at around $3 million and the lot at around $2.5 million. If that’s the case, then this premier Westhampton Beach lot has appreciated at around 8 percent per year since 1994.

You have read 1 of 7 free articles this month.

Yes! I'll try a one-month
Premium Membership
for just 99¢!

Already a subscriber? LOG IN HERE

Listed and Sold By First Hampton International Realty in Westhampton Beach, NY
By LCitarelli (10), Remsenburg on Apr 30, 12 4:00 PM
©2014, 27east.com / The Press News Group - Ph: 631-283-4100 - mailbag@27east.com