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Three Ponds Farm. COURTESY BESPOKE REAL ESTATE
Sold in June, Three Ponds Farm is a 58.7-acre, eight-structure compound with its own USGA-rated 18-hole golf course. It is three separate properties straddling Water Mill and Bridgehampton, and the total sales price for the whole megillah was $34 million — making it 2019’s second-largest transaction overall.
It sold in three parts (which is why it is not in the top 10) and those parts are 901 Scuttle Hole Road for $20,993,984, 939 Scuttle Hole Road for $6 million and 402 Mitchells Lane for $7 million.
Prior to 1993, the land was part of the Carwytham Farm, which was split up and sold off. Among the structures at Three Ponds Farm are a 25,000-square-foot Italianate residence, a carriage house, a caretaker’s cottage, an orangerie, and a pro-shop. There’s no farm anymore, but there are three ponds: The compound fronts Long Pond and fully encompasses two smaller ponds.
The entire compound first came on the market in 2003 for $75 million. It was seeking $60 million in 2018 and was last listed for $49 million.
New York Post reported the buyer was Ivan Kaufman, the CEO and president of Arbor Realty Trust, a real estate investment company.
The seller was investment executive Cheryl Gordon Krongard, who had co-owned Three Ponds Farm with her late husband, Edward Gordon, the New York commercial real estate mogul who died in 2000. She married then-CIA executive director A. B. “Buzzy” Krongard in 2004.
Bespoke Real Estate had the listing and also brought in the buyer.
Staff Writer on Feb 13, 2020