Wooldon Manor On Southampton's Gin Lane Is Sold Again - 27 East

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Wooldon Manor On Southampton’s Gin Lane Is Sold Again

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130605-2217, Soth.SoH., Camuto, 16, 18, 20, 22, & 24 Gin Lane, Southampton Village, NY, SCTM904-028-1-1.0, 2.3, 2.4, 2.5, & 2.7, N40,52.257, W-72,23.371

author on Jul 21, 2014

Wooldon Manor, a historic oceanfront mansion at 16 Gin Lane in Southampton, was sold this week as part of two separate purchases of chunks of a 14.5-acre property that went on the market this spring.

On Tuesday, July 15, a New York family closed on the 10,000-square-foot, Tudor-style house, which was once home to members of the Woolworth family, as well as a separate 2-acre lot—a total of roughly 7.5 acres of property—for $50 million.

A local builder is in contract to close this week on the remaining three lots, about 2 acres each, for a total of more than $30 million, Harald Grant, an associate broker at Sotheby’s International Realty in Southampton, confirmed on Friday. Mr. Grant said he could not name either buyer.

Hedge fund CEO Scott Bommer purchased the entire block of property for $75 million at the end of December 2013, then put it on the market less than three months later for $98 million.

It was reported at that time that Mr. Bommer was in contract to pay nearly $94 million for three properties on Lily Pond Lane in East Hampton, although the sale of those properties could not be confirmed this week. Mr. Bommer also owns 436 Gin Lane in Southampton, a former Henry Ford estate on the ocean with a Philip Johnson addition, which is on the market for almost $20 million.

Along with Mr. Grant, other brokers listing the Wooldon property were Ed Petrie of Sotheby’s and Tim Davis of the Corcoran Group.

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