$13M Amagansett property hits the market

New York /
Feb.February 17, 2010 03:59 PM
 

A $13 million oceanfront Amagansett residential compound at 55 Dune Lane and 61 Dune Lane has hit the market. The property includes a 2,200-square-foot house and a 700-square-foot cottage with a 600-square-foot attached garage, which has been transformed into a living space.

Dawn Neway, an agent with Prudential Douglas Elliman whose listings include a nearly $20 million, 25,000-square-foot house in Wainscott, has the listing.

The home and the cottage, which features a heated pool, would cost $7.65 million and $5.35 million, respectively, if purchased separately.

The seller, who owns another property in East Hampton, according to Neway, primarily used the Amagansett compound as an “income-producing property,” renting it to tenants on a monthly, seasonally or yearly basis. Neway would not reveal the identity of the seller, saying only that he’s “no one famous.”

Both properties have undergone renovations since the seller first purchased them in 2008, according to Neway, including new flooring. Although she would not divulge the 2008 purchase price for the house, she said that the cottage’s closing price had been “in the high $4 [million range].”

Despite the current property owner’s relatively brief period of ownership, Neway said that he was not motivated by financial troubles to unload the property and added that he’s unconcerned about placing these homes for sale in the middle of a weak Hamptons market.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
East Hampton Town Supervisor Peter Van Scoyoc and 350 Pantigo Road (Zillow, Getty, Town of East Hampton)
Hamptons town could buy former department store land to build homes
Hamptons town could buy former department store land to build homes
(Illustration by The Real Deal with Getty)
Hamptons, North Fork pass affordable housing fund
Hamptons, North Fork pass affordable housing fund
(Illustration by The Real Deal; Getty)
New York’s wealthiest renters drive prices to new records
New York’s wealthiest renters drive prices to new records
From left: Redfin's Glenn Kelman, Opendoor's Eric Wu, FTX's Sam Bankman-Fried, and Douglas Elliman's Howard Lorber (Getty)
What the hell is happening in residential real estate?
What the hell is happening in residential real estate?
Douglas Elliman’s Lindsay Barton Barrett and 17 Prospect Park West in Park Slope (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Zillow, Douglas Elliman)
TRD Pro: Brooklyn’s top neighborhoods for Q3 home sales
TRD Pro: Brooklyn’s top neighborhoods for Q3 home sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...