Southampton Village Oceanfront Modern At 40 Meadow Lane Sells For $43 Million - 27 East

Real Estate News

Real Estate News / 1777867

Southampton Village Oceanfront Modern At 40 Meadow Lane Sells For $43 Million

icon 1 Photo
40 Meadow Lane, Southampton Village.

40 Meadow Lane, Southampton Village.

authorStaff Writer on May 11, 2021

An oceanfront modern at 40 Meadow Lane in Southampton Village recently sold for $42.92 million in an off-market transaction, and the New York Post reports that the new owner is New England Patriots owner Robert Kraft.

This 6,677-square-foot, three-story residence has seven bedrooms and 9.5 bathrooms and was built a few years ago in place of a 120-year-old shingle-style house in the historic district, over the objections of many village residents. One point of contention was the height — 53 feet above sea level and 40 feet above grade. The village has since adopted a stricter sky plane law, which would prevent the residence from being approved today.

More controversy followed as last year the limited liability company that just sold the property sought to eject from the home the former principal of real estate development and investment company HFZ Capital Group, Nir Meir. The LLC said in court filings that Mr. Meir was occupying the residence without permission, according to The Real Deal.

The sale closed April 5, according to The Real Estate Report Inc.

The property last changed hands in 2013 for $10.5 million, and it took about four years from then for the redevelopment to be approved, litigated and completed.

You May Also Like:

One-Time Summer Home Of Mets Owner Steve Cohen Sells For $23 Million In East Hampton

A 2-acre East Hampton estate with a recently expanded 9,795-square-foot residence recently sold for an ... 22 Jun 2021 by Staff Writer

East End Community Housing Fund Bill Heads To Governor’s Desk

State Assemblyman Fred W. Thiele Jr.’s bill to allow the five East End towns to establish Community Housing Funds — like the Community Preservation Fund but for affordable housing initiatives — has passed in both houses of the State Legislature and now goes to Governor Andrew Cuomo for his signature or veto. The legislation would permit towns to use Community Housing Fund proceeds to provide financial assistance to first-time homebuyers for up to 50 percent of the purchase price and would allow towns to underwrite the production of housing for sale or rent. The money could also be used for ... by Brendan J. O’Reilly

The Latch Southampton Village Recognized For Historic Preservation

Vision Long Island recently awarded the Beechwood Organization, one of the biggest builders in New ... by Staff Writer

A Flash In The Pan Or The New Normal?: Hamptons Real Estate Pros Examine Lasting Effects Of The Pandemic

The COVID-19 pandemic has permanently changed the nature of the Hamptons real estate market and ... 16 Jun 2021 by Brendan J. O’Reilly

OLA To Help East End Residents Gain Access To Rental Assistance

Suffolk County has designated OLA of Eastern Long Island to help East End residents gain access to rental and utilities assistance through New York State’s Emergency Rental Assistance Program. The relief is available to low- and moderate-income households at risk of experiencing homelessness or housing instability and includes help for paying back rent, future rent and overdue utility bills. The Emergency Rental Assistance Program also includes a method for the landlord to apply directly. Either way, payments will be sent directly to landlords. “Immigrant community members, especially if they are undocumented, can be extremely vulnerable to exploitation by landlords,” said ... 14 Jun 2021 by Staff Writer

Circa 1860 Sag Harbor Home Renovation And Staging Celebrates House’s History

Where thoughtful renovation and designer staging meet in the hot Sag Harbor housing market, a ... by Brendan J. O’Reilly

Bridgehampton South-Of-The-Highway Traditional Sells For Nearly $10 Million

A traditional gambrel-style residence south of the highway in Bridgehampton recently sold for $9.79 million ... by Staff Writer

Rose Hill Road Estate By Lifton-Green, Raymond Renault Sells For $14.9 Million

A 4.25-acre traditional estate by Lifton-Green Builders and architect Raymond Renault completed in 2019 in ... by Staff Writer

New Signed Home Contracts Up Year-Over-Year For 12th Month In A Row

In May 2020, New York State social distancing mandates prohibited in-person real estate showings with ... 8 Jun 2021 by Staff Writer

New Build In Bridgehampton Designed By Bates Masi Sells With $25 Million Price Tag

A brand new waterfront residence in Bridgehampton by Bates Masi + Architects and Breitenbach Builders ... by Staff Writer

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