Oceanfront Residence And Adjacent Parcel Sell For $46.5 Million - 27 East

Real Estate News

Real Estate News / 1984849

Oceanfront Residence And Adjacent Parcel Sell For $46.5 Million

icon 1 Photo
35 Potato Lane in Sagaponack recently sold in a package with 543 Daniels Lane for $46.5 million.  COURTESY COMPASS

35 Potato Lane in Sagaponack recently sold in a package with 543 Daniels Lane for $46.5 million. COURTESY COMPASS

authorStaff Writer on Jun 29, 2022

An oceanfront estate in Sagaponack with an additional, undeveloped adjacent parcel recently sold for a total of $46.5 million.

Combined, 35 Potato Lane, with 250 feet of shoreline, and 543 Daniels Lane, inland, are 3.8 acres.

The modern residence was built as two detached structures but has since been joined by a breezeway. There are seven bedrooms, five full bathrooms and one half-bath spread across 5,200 square feet of living space.

“A third level sunroom, roof deck, and multiple oceanside decks provide some of the most stunning views one might imagine,” according to the Compass listing.

The property also includes an oceanside Gunite pool and an indoor endless lap pool. Additionally, there is a garage and a porte-cochère.

The listing notes there is an opportunity for a new home with a lower level. Meanwhile, the vacant lot to the north can yield 7,000 square feet of living space above grade and a lower level with room for a pool, pool house and tennis.

Christopher Covert and Chris Coleman of Compass had the listing.

“Several things made this a unique offering,” Coleman said. “For instance, they were single and separate lots on and across from the ocean, and both were out of FEMA flood zones, which will allow for a true heritage family compound. Given that the market responded incredibly swiftly, and this offering was gone before the listing made it live to the public, the results speak for themselves.”

Both sales closed in May, according to The Real Estate Report Inc, the Potato Lane parcel for $34.5 million on May 22 and the Daniels Lane parcel for $12 million 10 days earlier. Chicken Coop LLC was identified as a seller in both transactions, while Phyllis Davis was only named in the Daniels lane sale. The identity of the buyer is shielded by limited liability companies.

You May Also Like:

Property Fronting Hook Pond Gets $21.75 Million, Its Full Asking Price

The East Hampton Village home fronting Hook Pond recently sold for $21.75 million, its full ... 12 Aug 2022 by Staff Writer

Hamptons Summer Rental Market Slows Down After Two Hot Years

After two supercharged summers, driven by pandemic demand, it seems the East End’s seasonal rental ... 11 Aug 2022 by Sophie Griffin

Pulse: Hamptons Real Estate Roundtable

During the first half of 2022, the Hamptons market achieved record-high prices and record-low inventory, ... by Moderated By Brendan J. O’Reilly

The Top 10 Hamptons Home Sales Of The First Half Of 2022

In the first half of 2022, the top 10 Hamptons home sales ranged in price ... by Staff Writer

Experts Say Community Housing Funds Won’t Be Panaceas But Won’t Overheat Real Estate Market, Either

That the East End has an affordable housing crisis is a given. The extent to ... by Stephen J. Kotz

Hamptons Real Estate Market Is Pivoting, Analyst Says

There is a change in the Hamptons real estate market being felt right now, as ... by Brendan J. O’Reilly

Bespoke Debuts 1 Percent Listing Commissions

Bespoke Real Estate, a brokerage in Manhattan, the Hamptons and Miami specializing in listings priced ... 10 Aug 2022 by Brendan J. O’Reilly

New Build In East Hampton Village Sells With $6.4 Million Price Tag

A new build in East Hampton Village recently closed with a last asking price of ... 9 Aug 2022 by Staff Writer

State Bills Aim To Make Housing More Affordable

Governor Kathy Hochul signed a legislative package boosting housing affordability into law on Monday. The three bills enable local municipalities to expand eligibility for the property tax exemptions for those older than 65, people with disabilities, people with limited income, and first-time homebuyers, and they they provide more time and increased spending on emergency home repairs for low-to-moderate-income seniors. “I am proud to sign these bills to put money back in the pockets of New York homeowners and help seniors and families stay in their homes,” Hochul said in a statement on Monday. “With inflation and rising costs putting a ... by Staff Writer

CPF Revenue For The First Half Of 2022 Is Down 5.3 Percent

Peconic Bay Community Preservation Fund revenue for the first half of the year was $107.44 ... 3 Aug 2022 by Staff Writer