Prudential Douglas Elliman is marketing a plot of land adjacent to Martha Stewart’s summer home in East Hampton for $7.5 million.
The one-acre property at 52 Lily Pond Lane, once part of a larger estate, contains a 1,900-square-foot carriage house and swimming pool, said Paul Brennan, Elliman’s regional manager for the East End of Long Island. It is adjacent to Stewart’s shingled home, often pictured in books and magazines, at 58 Lily Pond Lane.
There is room for a larger house on the property, Brennan said, adding that a newly built home in that location would likely fetch upwards of $15 million. The area, where Madonna is reportedly renting a house for the summer, is one of the most desirable locations in the Hamptons.
“Lily Pond Lane is the Gold Coast,” Brennan said. “It’s in a location that can’t get much better.”
The property for sale, located just a few blocks from the ocean, belongs to “an old East Hampton family,” Brennan said, though he declined to name the family.
Elliman is reaching out to the neighbors, including Stewart, to determine if there’s interest in buying it, Brennan said. The property will be officially listed in the next week.
Stewart also owns homes in Maine and in Bedford, N.Y.