Olde Town Lane 'Summer House' Sells For $27 Million

Back in February we reported the sale of 6 Olde Towne Lane in Southampton—known as “Summer House”—but we could not tell readers the buyer or the price. The deal has just closed, and it turns out the identity of the buyer is shielded behind a limited liability company. But we can tell you the price paid was $27 million, according to The Real Estate Report Inc. This actually is a good deal for the 3.84-acre property, with the original having been $34.95 million, and it is the highest price ever paid for a non-waterfront Southampton property under 4 acres.

The residential compound consists of 23,000 square feet with nine bedrooms and 13.5 baths. The main house comprises approximately 16,000 square feet with nine en-suite bedrooms of which two are true master suites, 10 full and three half-baths; and a second-floor master suite with bath, three full staircases, an elevator, six fireplaces, both professional chef and traditional kitchens, a great room, a breakfast room, a den, a library, and a loggia with retractable automatic screens. (Not to be confused with the late actor Robert Loggia, who starred with Tom Hanks in “Big.”) Additional square footage is in the lower level that features a theater, gym, basketball court, spa area with juice bar, full bath, sauna, and steam and massage rooms as well as entertainment lounge with full bar. The staff quarters feature a full kitchen, sitting room, two bedrooms each with baths en-suite, and an outdoor terrace with dining areas. The third floor includes storage and a formal staircase up to a rooftop putting green with views over the village. The pool house features a lounge, kitchenette, two full baths, and changing room. A canopy veils the pool house terrace providing shade for dining or relaxation. The grounds offer automated security gates that open to reveal a manicured landscape bordered by a privet hedge. A swimming pool with sun-shelves for chaise lounges and a spa sit directly off the pool house terrace. A sunken, walled, and seated gas fire pit and sunken tennis court complete with decorative lattice fencing and a pergola covered viewing area augment the exterior amenities. Bring on summer!

Tim Davis and Gary DePersia represented Kean Development Company for Corcoran. Mr. DePersia brought the buyer.

While we’re reporting recent big deals, we want to mention 41 Gibson Lane in Sagaponack, which has just been sold, also to an LLC, for $9.5 million. On the 0.85-acre property on a private lane is a classic—meaning old—shingled three-bedroom beach cottage. Given the oceanfront location, one can expect new construction soon.

And after paying $7.5 million, Sebastian Lattuga is the owner of 11 Robertson Drive in North Haven. The existing four-bedroom home is charming as is or could be renovated and re-imagined into an almost 8,500-square-foot home plus an accessory structure of almost 1,300 square feet and a waterside pool, too.

Rounding this up, we’re back in the Village of Southampton, where 21 Old Town Crossing has been purchased by Brittany and Peter Wallach for an even $5 million. The 4,400-square-foot house on 0.33 acre has five bedrooms and six baths. Light-toned wide-plank flooring, dark-toned accents and handrails, wide horizontal wainscoting, modern bathrooms, and a brand new ultra-modern kitchen where Bosch, Sub-Zero, Wolf, Miele appliances have all been installed. The home offers a den/convertible guest suite on the ground floor, and two guest suites, two guest beds and a bath, and the master suite occupy the second floor. The lower-level ceiling height has been raised and with a polished concrete floor offers a media room with fireplace, full bath, and laundry with double washer/dryers. The main floor includes the living room with fireplace that steps down to the open family/dining room with fireplace and kitchen. A wall of rear doors opens to the covered patio, back yard with an in-ground pool, and pool house with full bath and attached one-car garage.