This 6,000-square-foot stucco house has a formal, European design. It is located on the far north end of North Haven, on a creek that empties out into the bay near the South Ferry landing.
The house has six bedrooms and 6½ baths and is styled with marble floors, custom woodwork, three stone fireplaces and a formal parlor, living room, dining room and library. Large French doors connect the center of the home to a patio, which leads out to a Roman-style pool, and lawn leading down to the water.
The seller purchased this property as a teardown in 1998 for $379,000, prior to the construction of this house in 2000. Assuming a $500-per-square-foot valuation, plus $500,000 for pool, patio, landscaping and two-car garage, this sale values the improvements on this property at perhaps $3.5 million, and the lot, if vacant, at $2.2 million.
If the build-out of this property cost approximately $3.5 million, then the seller’s basis, including soft costs, is somewhere around $4 million. This sale represents a return on the seller’s investment approximately in line with inflation over the last 13 years.
This modern home is located in Barnes Landing, a quiet neighborhood of half-acre lots near Gardiner’s Bay in Springs, just north of Amagansett.
The 2,000-square-foot house was built in 2002 and has three bedrooms and two baths. The house is long, narrow and linear, with the living/kitchen/dining area at one end of the first floor and two bedrooms, a bath and a den with fireplace along the remainder of the story. The master bedroom upstairs contains a very creatively designed shower that is located along an exterior wall with a sliding door opening up to a porch, so that it feels like an outdoor shower whether or not the door is opened.
Clever details abound throughout the house, especially those that contribute to opening the house to the outdoors. The most important of these is a large overhang connected to the living space, via garage doors, which can be opened to allow the deck to become part of the living space, even in heavy rain. The strong, open connection between the deck and interior of the house gives it an expansive, earthy feeling, which is promoted by the use of organic materials such as wood—rather than more cold and sterile materials, such as concrete.
Good modern architecture and excellent craftsmanship are always difficult to find, particularly at the lower price levels. It’s these factors that account for the sale price of this home, which is significantly higher than other similarly sized homes in the area.
27east on Oct 3, 2011