In October of last year, a Southampton Village oceanfront property at 1384 Meadow Lane changed hands for $16 million, and just last month, it traded again, this time for an even $20 million — a 25 percent increase in less than six months.
The 3-acre property with 150 feet of shoreline to the south and views of Shinnecock Bay to the north was clearly purchased for the land when it found a buyer last year. The existing contemporary residence had just three bedrooms and three bathrooms, and the listing pitched the site as a redevelopment opportunity “with ample room for a substantial home, oceanside pool and tennis court.”
Back then, Tim Davis of Corcoran had the listing and Bespoke brought the buyer. This time, the deal was done off market, and Bespoke represented both the buyer and the seller. Because there was no public listing, it’s unclear if any improvements to the property led to the $4 million boost in price in such a short period.
Staff Writer on Apr 12, 2021