Twin Peaks At Olde Towne Sells For $34.5 Million, An In-land Record - 27 East

Real Estate News

Real Estate News / 1778905

Twin Peaks At Olde Towne Sells For $34.5 Million, An In-land Record

icon 5 Photos
Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

Twin Peaks at Olde Towne in Southampton Village. COURTESY KEAN DEVELOPMENT

authorStaff Writer on May 14, 2021

Twin Peaks, a 20,000-square-foot residence on 4 acres in the Olde Towne development, recently sold for $34.5 million, the most ever paid for a nonwaterfront residence in the Hamptons.

Kean Development, the Cold Spring Harbor company developing the 47-acre Olde Town subdivision, says this is the fourth time its president and CEO, John Kean, has sold the most expensive in-land property in Southampton. The last asking price for Twin Peaks was $39.5 million, though it was first listed in 2015 for $45 million.

The gated estate comes with a cottage, a pool and pool house, and a Deco turf tennis court in addition to the three-level main house with a rooftop putting green. In all, the estate has 10 bedrooms, 14 full bathrooms and three half-baths.

The main house, decorated by Tony Ingrao of Ingrao Inc., has 15,500 square feet of living space above grade, including a 26-foot foyer, two master suites and six more en-suite bedrooms. There is both a professional chef’s kitchen and a traditional kitchen, a great room, a breakfast room, a media room, a library and a loggia. On the lower level, find a theater, a gym, and a two-lane bowling alley and lounge with a full bar and billiards.

Three staircases and an elevator connect the levels, and there are eight fireplaces throughout.

And then there’s the cottage with a full kitchen, a living/dining room and two en-suite bedrooms. The pool house has a great room, a lounge, a kitchenette, two full bathrooms and changing rooms.

The negative-edge pool is 60 feet by 34 feet and has a spa, and the grounds also feature a sunken fire pit.

Of the 10 parcels at Olde Towne, three remain available. On lot 2, Kean Development has broken ground for “The Gables,” expected to be complete in 2022.

Developer Bob Gianos purchased the former farm field that would become Olde Towne for $33.5 million in 2006. After receiving Planning Board approval for a subdivision, he had 440 mature trees installed at a cost of $7.5 million to line the streets. He also had the utilities buried and, working with the town’s Community Preservation Fund, purchased and razed an old medical building across the street and turned it into a public park.

Kean Development bought the subdivision in 2013, took over the project and proceeded to develop lots on spec.

In 2017, Tower House at 7 Olde Towne Lane fetched $26 million, discounted from a list price of $29.9 million. Then in 2019, Summer House at 6 Olde Towne Lane sold for $27 million after seeking $34.95 million.

Before Tower House, the most recent record holder for the most-expensive in-land sale in the Hamptons was 55 Coopers Neck Lane in Southampton Village, which sold for $33.7 million in December 2020. That 4.4-acre property includes both a 21,000-square-foot main house — inclusive of the living space on the lower level — and a 6,000-square-foot “guest house.”

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
logo

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