Spotlight: One Week In Real Estate Transfers

This column spotlights properties from the week’s deed transfer list.

This oceanfront property has many outstanding natural features, justifying its large asking and selling price.

The house is sited on 8 acres, a huge lot for oceanfront, although much of the land is a pond. The sale included a nearby 23-acre agricultural reserve, including a private dock providing access to Sagg Pond, that the buyer also purchased for an additional $4 million.

This property is the ultimate Hamptons buyer’s dream, combining oceanfront, acreage, privacy, farm fields and sunset pond views. The traditional, shingled residence was built in 1994 and offers 6,000 square feet of living space, with seven bedrooms and nine bathrooms, and an oceanside Gunite pool. A wooden boardwalk through the dune leads to the ocean beach and a sunbathing platform. The three-car garage has finished loft space and a bath.

The property, including the additional 23 acres of ag reserve, was listed with Gary DePersia of the Corcoran Group in August of this year for $34,990,000 and closed less than 60 days later for $31 million, proving that listings priced close to their actual value sell right away. Mr. DePersia said there was interest in the reserve, for more than $9 million, on its own. This property actually seems like a good value compared to other recent oceanfront home sales: $25 million on Lily Pond Lane for only 1.5 acres, and a 5-acre, $50 million estate on Gin Lane.

On the other hand, the house on 8 acres last transferred for $1.8 million in 1995. The 23 acres of agricultural land were purchased for $750,000 in 1999. That’s an increase of $28,450,000 over the course of roughly 20 years!

The median was influenced this week by the sale of 11 vacant lots, all for $500,000, in a development off County Road 39. With water, gas, electric and cable already in place, these lots are ready for building. Originally listed for between $675,000 and $950,000 in July 2012, the lots range in size from 0.45 to 0.8 acre. New homes are currently offered for sale on some of these streets for $1.7 million to $1.9 million.

With the sale of these lots, there will probably be more new construction available in this development in the upcoming year.

This shingled traditional farmhouse was built in 2005 and offers 2,200 square feet of living space on 1.8 acres, just a few minutes north of Southampton Village. The home has four bedrooms, two baths, central air and room for a pool.

The last time this property transferred was at the height of the market in 2007, for $834,300. It’s possible that this was a short sale, in which the bank accepts lower than the loan amount instead of proceeding with foreclosure. In any case, these buyers got a great deal for a starter house on a nice-sized lot close to town.

Freelance writer Ann Rasmussen is a licensed real estate broker at Brown Harris Stevens of the Hamptons, with more than 10 years of experience.