Montauk Sales Light Up The Market

During the same week as fireworks, Montauk is putting on its own display—of red-hot real estate activity.

The biggest blast is the sale of 240 Old Montauk Highway for $22.8 million. The buyer’s broker, Robert Dankner of Prime Manhattan Residential in New York City, has said that price is the highest paid for a residential property this year in the Town of East Hampton, and the second-highest deal ever in Montauk. What is the top sale? The $48.7 million paid two years ago for the former Andy Warhol estate.

The six-bedroom, four-bathroom residence is perched above the Montauk bluffs on one of the highest parcels on Old Montauk Highway. Set upon 2.2 acres, the 4,000-square-foot home offers a bright, three-story layout with ocean views in every direction. Gut renovated in 2013 with the help of skilled designer Robert McKinley—the man behind the renovations at two other Montauk hot spots: The Surf Lodge and Ruschmeyer’s—the home features an open living room, 1,000-square-foot top-floor master suite, outdoor shower, saltwater pool, custom spiral staircase that connects the master bedroom to the pool deck, and a winding path that leads directly to the beach.

Sotheby’s International Realty handled the seller’s end. The buyer’s identity has not yet been revealed.

Also illuminating the hamlet’s real estate sky is the sale of 51 Edgemere Street for $7.1 million to a limited liability company. This is the site of the East by Northeast restaurant on Fort Pond and the adjacent Stone Lion Inn. Completely renovated in 2002, and exterior renovated 2009, the restaurant can accommodate weddings and events from 180 to 200 people. The inn has a pond and sunset views from every room, and each room has a deck.

We’re assuming sparks flew for Blanche and William Hench when they closed on 43 Cleveland Drive, which they purchased for $6.3 million. The ocean view home sits atop 0.65 acre in one of Hither Hills’ highest vantage points. The traditional home offers 180-degree panoramic ocean viewing from both the upper and lower verandas, and pool area. The main floor offers three, en suite guest bedrooms, and a common area, which flows to a fabulous covered, slated porch. An elevator services both the first and second floor, making accessibility an easy option for homeowners and houseguests. The upper level includes a 12-foot-ceiling living room with a double-stacked, blue-stone fireplace augmented by a chef’s granite gourmet kitchen, which opens to both indoor and alfresco dining areas. Upper, full-length decks offer a perfect venue for entertaining under the stars or savoring morning coffee as the sun rises from the sea. A grand and spacious en suite master bedroom offers its own sitting area, walk-in closet, radiant heated flooring, and an outdoor viewing space. Both upper and lower areas lead to beautifully landscaped gardens.