25 Shaw Road and Stephen Siegel

Stephen Siegel has purchased a $13.7 million seven-bedroom, 7.5-bath home with 200 feet of private beachfront in Sag Harbor, a spokesperson confirmed to Newsday. The sale of the 25 Shaw Road home, raised eyebrows last month when it ranked the highest selling one-family home in the town, the seller’s broker Tara Newman of Saunders & Associates told The Real Deal at the time. The buyer’s identity was not immediately available at the time. The property was on the market for two years before Siegel nabbed it from Charles Ray Langston, a Miami-based hedge fund manager. The property has a 50-foot heated swimming pool, theater and croquet court. Just last month Siegel purchased a Manhattan property, a $1.75 million two-bedroom apartment at the Fairchild condo at 55 Vestry Street. [more]

Just three days after the record-breaking sale of a $14 million Sag Harbor Village home was reported, the identity of the mansion’s mystery seller has been revealed. Charles Ray Langston, a Miami-based hedge fund manager with a penchant for race cars, was named as the seller of the 8,200-square-foot home at 25 Shaw Road, the Post’s Jennifer Gould Keil reported. The identity of the buyer has not yet been revealed.

An eight-bedroom, seven-bathroom “Nantucket-style” cottage in Sag
Harbor Village is in contract for $15.995
million and is expected to close shortly. The 8,200-square-foot waterfront home has a wine tasting
room, movie theater, billiards room and indoor gym. The gated-property has a heated pool, hot tub and three-car-garage. Tara
Newman of Saunders & Associates is representing the seller. [NY Mag]

[UPDATE, 5:30 p.m.]
The sale closed today at around 3 pm for approximately $14 million, the seller’s broker Tara Newman told The Real Deal. The property, which she identified as 25 Shaw Road, broke sales records for the town, she said. The previous record deal was for the $6.85 million Hannibal French House, for which Newman was also the listing agent, in 2006. She has sold the French house three times in her career, Newman said. The Shaw Road property has been on the market for over two years, most of which time it was listed by the Corcoran Group while it was used as a rental home. During its tenure as a rental, 25 Shaw Road netted $395,000 per summer, another record-breaking figure for Sag Harbor Village, Newman said. Although she did not disclose who the buyer or seller were, Newman said that they were “nobody you’ve ever heard of.”