Further Lane Postmodern Sells For $11.53 Million - 27 East

Real Estate News

Real Estate News / 2000009

Further Lane Postmodern Sells For $11.53 Million

icon 3 Photos
The 386 Further Lane pool. COURTESY BROWN HARRIS STEVENS

The 386 Further Lane pool. COURTESY BROWN HARRIS STEVENS

The 386 Further Lane guest house. COURTESY BROWN HARRIS STEVENS

The 386 Further Lane guest house. COURTESY BROWN HARRIS STEVENS

386 Further Lane. COURTESY BROWN HARRIS STEVENS

386 Further Lane. COURTESY BROWN HARRIS STEVENS

authorStaff Writer on Jul 20, 2022

A stucco postmodern in Amagansett on coveted Further Lane has sold for $11.53 million with a last asking price of $13 million.

Custom home builder John Hummel built the home in 2001. It has five bedrooms and nine bathrooms, including a master suite with a balcony. Among the features and amenities are a commercial-grade top-of-the-line kitchen, French doors throughout, a finished basement, rolling lawns and gardens, and an award-winning pool.

Jim MacMillan and Peter Turino of Brown Harris Stevens had the listing.

“The property at 386 Further Lane was part of the East Hampton farming area because of its rich fertile soil,” MacMillan said. “It sold in the early ’60s when a workshop had been constructed by the Praegers, who ran a European publishing company.”

He noted that the property abuts agricultural reserve on two sides, where there will be no future residential development.

“There is 100 percent clearing allowed because it was farmed,” he said of 386 Further Lane. “The property is fenced and planted with specimen trees and shrubs along with sweeping lawns giving it that ‘wow’ factor when one enters the property.”

MacMillan said the house went through several renovations by past owners to meet specific needs, and the bedrooms were spread out and on different levels. “The layout was unusual and dissuaded many potential buyers from proceeding with a purchase,” he said. “My 20 years’ experience tells me that this may be indicative of today’s buyer in that new houses that are beautifully done will sell quicker in a less desirable area only because no work is needed.

“The real estate adage of ‘buy the worst house in the best location’ seems to have gone by the wayside since COVID,” MacMillan continued. “Only developers will tackle the big south-of-highway projects and profit very well from them. 386 Further Lane is just one example of how our market is changing. Thankfully, these buyers had the foresight to see the potential and they, too, will do very well should they ever decide to sell.”

The seller was Weeping Beach LLC and the new owners are Kristin and Scott Fine, according to The Real Estate Report Inc. The deal closed on April 27.

You May Also Like:

Property Fronting Hook Pond Gets $21.75 Million, Its Full Asking Price

The East Hampton Village home fronting Hook Pond recently sold for $21.75 million, its full ... 12 Aug 2022 by Staff Writer

Hamptons Summer Rental Market Slows Down After Two Hot Years

After two supercharged summers, driven by pandemic demand, it seems the East End’s seasonal rental ... 11 Aug 2022 by Sophie Griffin

Pulse: Hamptons Real Estate Roundtable

During the first half of 2022, the Hamptons market achieved record-high prices and record-low inventory, ... by Moderated By Brendan J. O’Reilly

The Top 10 Hamptons Home Sales Of The First Half Of 2022

In the first half of 2022, the top 10 Hamptons home sales ranged in price ... by Staff Writer

Experts Say Community Housing Funds Won’t Be Panaceas But Won’t Overheat Real Estate Market, Either

That the East End has an affordable housing crisis is a given. The extent to ... by Stephen J. Kotz

Hamptons Real Estate Market Is Pivoting, Analyst Says

There is a change in the Hamptons real estate market being felt right now, as ... by Brendan J. O’Reilly

Bespoke Debuts 1 Percent Listing Commissions

Bespoke Real Estate, a brokerage in Manhattan, the Hamptons and Miami specializing in listings priced ... 10 Aug 2022 by Brendan J. O’Reilly

New Build In East Hampton Village Sells With $6.4 Million Price Tag

A new build in East Hampton Village recently closed with a last asking price of ... 9 Aug 2022 by Staff Writer

State Bills Aim To Make Housing More Affordable

Governor Kathy Hochul signed a legislative package boosting housing affordability into law on Monday. The three bills enable local municipalities to expand eligibility for the property tax exemptions for those older than 65, people with disabilities, people with limited income, and first-time homebuyers, and they they provide more time and increased spending on emergency home repairs for low-to-moderate-income seniors. “I am proud to sign these bills to put money back in the pockets of New York homeowners and help seniors and families stay in their homes,” Hochul said in a statement on Monday. “With inflation and rising costs putting a ... by Staff Writer

CPF Revenue For The First Half Of 2022 Is Down 5.3 Percent

Peconic Bay Community Preservation Fund revenue for the first half of the year was $107.44 ... 3 Aug 2022 by Staff Writer