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1320 Meadow Lane, where an incomplete compound stands, is on the market for $67 million with renderings of a new modern home in the place of the incomplete Moroccan-inspired mansion.
A half-built 18,000-square-foot oceanfront residence on Meadow Lane in Southampton Village will likely never be completed, but rather be demolished after the 8.1-acre property finds a buyer.
Work on the Moroccan-style compound ceased in 2018 and rumors spread that the owner intended to knock it all down and start over. But now, 1320 Meadow Lane is for sale with a $67 million price tag and renderings of a sleek modern design in place of the incomplete mansion.
The property last traded in 2007 for $35 million, according to town property records, which identified the owner as Meadowcore LLC. At the Southampton Village Building Department, the name Thomas E. Sandell appeared on applications, but was crossed out with a blue pen and replaced with the name of the LLC. Sandell is the founder of the Manhattan hedge fund Sandell Asset Management and, according to Forbes, has a net worth of $1.3 billion.
The estimated cost to build the compound to completion, including both attached and detached garages, a tennis court and a swimming pool between the house and the ocean, was $19 million, building department documents stated. How much was spent before construction stopped is unclear.
According to the new listing from real estate broker Tim Davis of Corcoran, the property has 550 feet of ocean frontage away from public access points plus deeded access to a bayfront on the other side of Meadow Lane.
Staff Writer on Oct 4, 2022