American Hotel owner Ted Conklin has officially put his two Sag Harbor
homes on the market for about $10 million, according to the New York
Post. Conklin’s historic Sag Harbor hotel — once frequented by Billy
Joel — is expected to go on the market next, for no less than $25
million. Sources told the Post that Conklin has decamped to East
Hampton and Palm Beach, where his new wife, Carol Simmons, lives.
Conklin’s ex-wife, broker Tara Newman of Saunders Associates, who holds
the highest sale record for Sag Harbor, called the house offerings a
“unique opportunity.” [Post]

[more]

American Hotel owner Ted Conklin has officially put his two Sag Harbor
homes on the market for about $10 million, according to the New York
Post. Conklin’s historic Sag Harbor hotel — once frequented by Billy
Joel — is expected to go on the market next, for no less than $25
million. Sources told the Post that Conklin has decamped to East
Hampton and Palm Beach, where his new wife, Carol Simmons, lives.
Conklin’s ex-wife, broker Tara Newman of Saunders Associates, who holds
the highest sale record for Sag Harbor, called the house offerings a
“unique opportunity.” [Post]

[more]

25 Rawson Road

From the March issue: Every year, Hamptons broker Jane Gill gets a call from the same Wall Street trader, looking for a summer rental with a fenced-in yard, an acre of property and a garage for his Ferrari. He always calls at the last minute, usually around Memorial Day, hoping to get a good deal: a $200,000 property for about $75,000.

“He works with every broker,” said Gill, a vice president at Saunders & Associates in Bridgehampton. “Last year, I showed him a few things, and then I lost contact with him. I assume he found something.”

He may not find it so easy this year, however. Brokers say that while last year many renters waited until the eleventh hour, they have been receiving calls from interested renters over the last month, and some of the most exclusive properties have already been picked up.  [more]

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.”