At $65 Million, Sagaponack Compound Is One Of A Kind

One has to assume a good relationship exists between three sisters who built homes next to each other and now have decided to sell their Sagaponack parcels at the same time. Paul Brennan at Douglas Elliman is the agent representing the three properties, which total 32 acres and are on the market for $65 million.

Kelman Held and his wife raised three daughters—Marsha, Linda, and Jane—in Jericho in Nassau County, but once school was out and the ocean sparkled in the summer sun, the family spent the season of long days in the Hamptons. The daughters often heard tales of their father growing up in a multi-generational household in Bensonhurst, Brooklyn. (This community was founded in the late 1800s by Arthur Benson, who later bought up swaths of Montauk in an unsuccessful attempt to develop the hamlet.)

In the early 1980s, after their parents died, the Held sisters purchased the adjacent properties in Sagaponack to create their own version of a multi-family compound.

The 32 acres are on Poxabogue Pond and are divided into the three residential parcels and three vacant building parcels of 2 acres each, plus there is an 18-acre agricultural reserve. One of the residences is a fairly modest 3,800-square-foot house with 4 bedrooms and 3 baths. The reserve property is presently a corn field, with harvest time approaching.

Each of the sisters designed her own customized home facing Poxabogue Pond, also approximately 2 acres each. Now, with the sisters’ children grown and mostly living elsewhere, the decision was made to sell. If they can be persuaded by the real estate listing copy, buyers, even at $65 million, should not be hard to find: “There isn’t a more opulent ambition than to build a sprawling waterfront Hamptons compound exactly to your own specifications, on spectacular land, within Forbes’ most exclusive Zip Code in the country. Poxabogue Pond is a property of endless opportunity and possibility, and exemplifies the best the Hamptons has to offer.”