UK Developer Buys Further Lane Property for $12 Million, Begins To Build Anew

At the end of last year, Paul Brennan and Martha Gundersen of Douglas Elliman quietly closed on an off-market sale on Further Lane in East Hampton for $12 million. They represented both sides of the deal.

The buyer is Nick Capstick-Dale, one of the United Kingdom’s biggest private developers/landlords and listed on The Sunday Times Rich List 2024 at £465 million ($605 million).

At 12 Further Lane, the property leads onto the Maidstone Club golf course.

“This off-market sale was an extraordinary one in the way things aligned. It’s probably one of our best deals,” said Brennan, an associate broker. “Martha has a great relationship with the homeowner and over time helped her to realize the great opportunity in the market. Through our global connections, we were fortunate enough to also bring the right buyer along at the right time — an international buyer.”

“The existing home overlooks the Maidstone Golf Club with beautiful views of the pond and golf course, plus, the most awe-inspiring sunsets,” added Gundersen, who is also an associate broker. “It was truly a rare opportunity. Not many houses have sold or changed hands in this area, so this sale was a major coup.”

The property has a view of the ocean as well as sunset views across Hook Pond. The house was demolished earlier this month to make way for his family’s new 11,000-square-foot summer home by contractor Ben Krupinski Builder. The remit was to build a graceful traditional home that blended into the landscape, according to Douglas Elliman, which stated that Capstick-Dale had been targeting Old Beach Lane/Highway Behind the Pond for several years, but didn’t want oceanfront.

The Capstick-Dales, who live in London, have been summering in East Hampton since they built their home on Egypt Lane in 2009, but now, with three young children, are building something with more space.

According to Suffolk Vision Inc., the seller was the Mary & Leon Jaroff Trust.