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© Kim Sargent
The first six months of 2017 have given watchers of the Hamptons real estate market much to be excited about, including the impressive numbers posted by the top 10 sales of the half.
#1 $31,000,000 328 Gin Lane Village of Southampton
Coming in strong at the top of the list for sales in the first half of 2017 is a relatively modest 2,500-square-foot home on 2.64 acres right on the Atlantic Ocean. With 4 bedrooms, 2.5 baths and only a crawlspace for a basement, the $31 million price tag can mostly be attributed to the 200 feet of oceanfront laid on one side. Included with the main house is an immaculately landscaped property with heated pool, tennis court and raised stone terraces overlooking the dunes.
The seller is the estate of John F. Poster, the auto parts mogul and avid equestrian who died in 2014, whose Fifth Avenue apartment was once featured in the HBO series “Sex and the City.” Mr. Poster originally purchased the property on Gin Lane in 1984 for a measly $175,000—despite the asking price dropping from $39.5 million, that’s not a bad flip.
#2 $26,000,000 7 Olde Towne Lane Village of Southampton
Just edging out third and fourth place on this list is a grandiose 17,400-square-foot home situated on a newly landscaped 4-acre lot a quick walk from the Atlantic Ocean.
Built in the new Olde Towne Lane development adjacent to Wickapogue Road, this 10-bedroom, 13.5-bathroom residence, dubbed Tower House, features the finest in modern luxury, including a custom Crestron smart house system that automates lighting, security, entertainment, heating and cooling. The main house is complete with a 66-foot gunite pool, an indoor spa, a tennis court, a spacious garage, six fireplaces, a billiard room, a home theater, a gym, a wine room, a walk-in refrigerator—and an elevator. As if all that wasn’t enough, on the property is a lovely little cottage as well.
The home, being recently carved from an open field, is of course without history, and much the same the new owner is without identity, as his or her name is shrouded behind Oldetownehouse LLC.
#3 $25,000,000 32 Middle Lane Village of East Hampton
Rounding out the top three is an 8,268-square-foot gem situated beautifully on 5.5 acres in the heart of East Hampton estate country. The main home, built in 1931, was designed by famed architect Aymar Embury II, who supervised the design and construction of hundreds of New York City landmarks, such as the Central Park Zoo, Prospect Park Zoo and the Triborough Bridge. Embury’s second wife, Ruth Dean, designed the core of Grey Gardens in 1913. Boasting 6 bedrooms, 5 full bathrooms, 3 half-bathrooms and a lavishly grand dining hall, the residence is a throwback to the early days of Hamptons estates, with a pedigree unmatched.
The seller is Dune Park LLC, which the New York Post claims is under the estate of Daniel Breen, the late investment management pioneer who died last year. The new owner—who enjoyed a nearly $5 million discount off the $29.95 million ask—is identified only as 32 Middle Lane LLC.
#4 $24,600,000 1510 Meadow Lane Village of Southampton
Falling just short of the top three is a 5,500-square-foot oceanfront mansion modestly described as a “classic shingle-style beach house, which recently sold for a not so modest $24.6 million. The home, originally built in 2000, is nestled on 2.69 acres of beachfront and sports 6 bedrooms, 7 bathrooms, an ocean-facing bluestone terrace, in-ground swimming pool and a party-friendly open floor plan that’s perfect “to enjoy lobster rolls, clam bakes, and cocktails,” according to the listing.
The previous owner of the property is Lynne Pasculano, heir to UIS, Inc., a private corporation with ties to manufacturing and auto parts, who reportedly has a personal net worth of nearly $1 billion. The new owner, Never Squabble LLC
#5 $22,150,000 500 Old Town Road Village of Southampton
Coming in strong at fifth on the list is an elegant 8,322-square-foot English cottage-style mansion just down the road from the Atlantic Ocean. Cut into the landscape on 1.86 acres overlooking Southampton’s Old Town Pond is a 7-bedroom, 8-bathroom main house featuring a billiard room, entertainment lounge, wine cellar and large windows facing the water. Outside, one will find an all-weather tennis court, 50-foot gunite pool, jacuzzi and poolhouse.
The home was built just last year by 500 Old Town LLC, which purchased the property in 2013 for $6,750,000. The new owner’s identity is listed mysteriously as OTR Property LLC, a limited liability company whose primary mailing address is a swanky Fifth Avenue apartment once owned by famed reclusive heiress Huguette Clark.
#6 $20,500,000 1285 Flying Point Road Water Mill
As the last house on our list to crest the $20 million mark, this stunningly modern 3,592-square-foot pad along 180 feet of oceanfront is nothing to sneeze at. Rising above the dunes on an elevated bulkhead, this 4-bedroom, 4-bathroom modern masterpiece offers sweeping views of the Atlantic Ocean and Mecox Bay, and with walls of glass on both sides—some of which recede hydraulically into the floors—homeowners will relish in watching both sunrises and sunsets.
The original owners, Tony and Melinda Cheng, well known for their philanthropic pursuits in the Southampton area, originally listed the house in 2015 for a whopping $30 million, allowing the new owner, Lewis & Clark LLC, to walk away with more than a 30 percent price cut.
#7 $18,325,000 55 Trees Lane Village of Sagaponack
Etched from the loamy farm fields of Sagaponack is this newly built 11,000-square-foot Hamptons estate on 1.39 acres next to the ocean. The main house, completed just months ago, replaced the paltry 9,680-square-foot home that graced the property since 2008—and for good reason. Included in the new design is a massive gunite pool overlooking the surrounding fields, a Har-Tru tennis court, and crisply landscaped gardens.
Not much is known about the seller, 55 Trees LLC, besides a shared mailing address with Southampton’s Lifton Green Contractors. The buyer, on the other hand, listed as 55TL LLC, has ties to David Swinghammer, operating partner of the Stripes Group investment company, and one-time CEO of Shake Shack.
#8 $15,800,000 83 Fowler Street Village of Southampton
Nestled in the fields between Julie Pond and Phillips Pond sits this lonely 4,500-square-foot homestead that once belonged to Margaret H. Fowler, matriarch of the Southampton Fowlers, who have farmed the very area for generations.
Whether or not the new owners will retain the 5-bedroom, 4.5-bathroom main house remains to be seen, or if they’d rather place something more personalized on the 5-acre pondside lot. Regardless, the home, built in the English colonial cottage style, suits the property perfectly, surrounded on all sides by exquisite English-style gardens.
#9 $14,980,000 90 Wyandanch Lane Village of Southampton
Selling for just shy of $15 million is a sprawling 4.5-acre estate tucked against Olde Towne Pond. Listed simply as 90 Wyandanch Lane, the property actually encompasses the addresses of 100, 106 and 118 Wyandanch Lane, providing the land with a “multiple residencies” designation. Currently, the estate consists of four buildings; an elegant two-story gate house, which was recently converted into a 7-bedroom home; a 4-bedroom barn-style house; stables, which have been converted into a 3-bedroom guest house; and an additional 2,000-square-foot, 1-bedroom guest house.
The estate was known years ago as Robbins Farm, owned by Edward Mele, heir to Mele Manufacturing, which was once the nation’s largest manufacturer of jewelry cases. The estate eventually parted with the property in 2012 for a respectable $12.5 million, before eventually falling into the hands of the current owner, listed only as Willow Lane Holdings LLC.
#10 $14,667,000 416 Beachcomber Lane Village of Southampton
Finishing off the top 10 for the first half of 2017 is a 6,000-square-foot residence just steps from the Atlantic Ocean, complete with all the standard amenities of any Hamptons estate. The 5-bedroom, 6.5-bathroom main house is a cozy construction of English colonial style, furnished with grand entryway, formal living and dining rooms, coffered, staff quarters and two master baths. Situated on just shy of 2 acres, the minimalist landscaping provides all the room necessary for outdoor get-togethers.
Unfortunately, the identities of both the buyer and seller are shrouded in LLC mystery.
on Aug 30, 2017