Land Values Are High - 27 East

Letters

Apr 30, 2023

Land Values Are High

Has there been an independent appraisal done on the Marsden property? I know land values are high in Sag Harbor, but $9,425,000 for 3.37 acres equals $2,800,000 per acre, or $1,885,000 per lot. Would the current market yield that kind of price to another arms-length purchaser?

I am of the opinion that this is perhaps the only opportunity for the school to have a contiguous athletic field and if not purchased will be looked back on as a opportunity lost forever.

Lawrence Leek

Sag Harbor