Oceanfront Meadow Lane Property With Unfinished Compound Sells for $49.5 Million

For about seven years, a nearly 18,000-square-foot Moroccan-inspired compound on an oceanfront property in Southampton Village has sat half-built, with no progress made and rumors floating it would be razed. In 2022, the property went on the market as a development opportunity, appearing to seal the fate of the incomplete project.

This month, the land at 1320 Meadow Lane — 8.1 acres according to the Southampton Town tax bill, but 9.75 acres according to the real estate listing — was sold. It’s unclear whether the new owner will try to salvage the incomplete compound or start fresh from the ground up.

The previous owner was listed as Meadowcore LLC, a limited liability company that traced back to hedge funder Thomas E. Sandell. Sandell paid $35 million for the land in 2007.

While the final sales price this time around was not immediately revealed, the last asking price was $49.5 million. Back in 2022, the asking price was $67 million, and by March 2024, the price tag was reduced to $59 million.

The land has approximately 550 feet of ocean frontage and “panoramic ocean views and deeded Shinnecock Bay access,” according to the listing, which notes, “The expansive estate provides multiple scenarios to create a custom compound, complete with a large main residence, guest house, pool, spa, tennis court, and more.”

Tim Davis, an associate broker with Corcoran, had the co-exclusive with Bespoke. Bespoke also brought the buyer.

Davis said 1320 Meadow Lane is “the largest oceanfront property on Meadow Lane and it is an extraordinary and amazing opportunity.”