Oceanfront Further Lane Estate Sells For $60 Million - 27 East

Real Estate News

Real Estate News / 1762199

Oceanfront Further Lane Estate Sells For $60 Million

icon 1 Photo
70 Further Lane, East Hampton

70 Further Lane, East Hampton

authorStaff Writer on Mar 12, 2021

An oceanfront estate in East Hampton Village quietly sold last month for $59.5 million in an off-market deal.

According to The Real Estate Report Inc., 70 Further Lane sold on February 5. However, there is no listing to be found for the 3-acre property, which includes a large shingled home, an oceanside pool, a tennis court and a basketball court, and no agency has stepped forward to take credit for the sale.

The owner was Jim Chanos, a hedge fund manager who has had great success in short sales. He is the president and founder of Kynikos Associates, and known for predicting the fall of Enron in 2001. Just last year, he successfully shorted troubled companies Luckin Coffee and Wirecard AG.

At 70 Further Lane, Mr. Chanos hosted annual parties to enjoy Fourth of July fireworks and also fundraisers. A July 2010 invitation states that Mr. Chanos and his then-wife, Amy Chanos, hosted a political fundraiser there for Andrew Cuomo’s first bid for governor. They also hosted at least one charitable fundraiser there for Miracle House.

At nearly $60 million, 70 Further Lane is the biggest Hamptons real estate transaction of 2021 to date.

The buyer’s identity is shielded by a limited liability company.

You May Also Like:

Jennifer Ponzini Joins Saunders & Associates

Associate broker Jennifer Ponzini, who is licensed in both New York and Florida, has joined ... 19 Nov 2021 by Staff Writer

Parrish Pond Estate Sells For $6.2 Million

A Southampton estate in the Parrish Pond neighborhood with water views recently sold for $6.2 ... by Staff Writer

Sagaponack Traditional Sells Above Asking Price For$10.3 Million.

A Sagaponack traditional just a few doors down from Sagg Main Beach recently sold for ... by Staff Writer

Shinnecock Hills Bayfront Home Sells For $7.3 Million

A modern bayfront home in Shinnecock Hills recently sold for $7.32 million after seeking $8 ... by Staff Writer

Leos Lane Home Trades For $6.3 Million

A Southampton Village residence built in 2014 recently sold for $6.3 million, which is $1.5 ... by Staff Writer

Thiele: Concerns About Eligibility To Collect Advances For Seasonal Rentals Are Easily Remedied

The New York State Association of Realtors has raised concerns that some homeowners will not benefit from a new law that allows landlords to collect rent for the entire season upfront, but the legislation’s author explained Friday how landlords and municipalities can easily meet the law’s eligibility requirements. In September, Governor Kathy Hochul signed into law Assemblyman Fred W. Thiele Jr.’s legislation that clarifies that seasonal rentals are not subject to caps on collecting deposits and advance payments. A few requirements must be met in order for landlords to take advantage of that exemption. Tenants must occupy the rental unit ... 16 Nov 2021 by Brendan J. O’Reilly

Sagaponack’s ZIP Code Is Third Most Expensive In U.S.

Sagaponack’s 11962 is the third most expensive ZIP code in the United States, dropping one ... by Staff Writer

West End Road Residence By Roger Bullard Listed For $60M

An oceanfront residence in the Georgica section of East Hampton that was designed by the ... 15 Nov 2021 by Staff Writer

East Hampton Village Traditional Sells For $13 Million

An East Hampton Village residence just two blocks from Two Mile Hollow Beach recently sold ... by Staff Writer

OLA Receives $30,000 To Prevent Homelessness, Educate Tenants

An anonymous donor has given OLA of Eastern Long Island $30,000 to support the nonprofit organization’s efforts to prevent homelessness. The funding will enable OLA to continue its work on tenants’ rights education concerning evictions and landlord-tenant disputes. “The onset of the pandemic in early 2020 and the accompanying shutdown of many industries devastated the livelihoods of countless East End Latino immigrants,” stated an OLA release announcing the donation. “A year and a half later, these individuals and families are still struggling to make ends meet, relying on OLA for cash assistance with food and, in the most dire cases, ... 9 Nov 2021 by Staff Writer
logo

Welcome to our new website!

To see what’s new, click “Start the Tour” to take a tour.

We welcome your feedback. Please click the
“contact/advertise” link in the menu bar to email us.

Start the Tour
Landscape view not supported
Send this to a friend