Hamptons estate sells for $25.5M, only second sale for over $20M in 2010

New York /
Aug.August 26, 2010 11:00 AM

Marking only the second sale
over $20 million this year, a $25.5 million, three-acre estate on Lily Pond Lane has found a buyer. Home sales in the Hamptons have rebounded strongly from last year’s lull, with 636 single-family homes selling in the second quarter, an 85 percent increase from the previous year, according to Suffolk Research Service. Still, expensive deals have been scarce in the Hamptons this year, the Wall Street Journal reported. Public records show that the only other sale above $20 million so far in 2010 was Joanne Corzine’s sale of her 6.5-acre property for $43.5 million to hedge fund manager David Tepper, which closed in May. In this most recent transaction, the buyer of the 10,000-square-foot landlocked estate is Richard Parkoff, head of the Parkoff Organization, a New Jersey-based company that owns apartment buildings in New York City. According to PropertyShark.com, the seller is Carol Morgan, the widow of Ron Morgan, the former CEO of Bank of New York Mellon subsidiary Pershing in London. John Golden of Prudential Douglas Elliman had the listing. The home features three separate dining rooms, a solarium, a guest house, a tennis court and a pool. Notable neighbors include billionaire investor Carl Icahn and designer Martha Stewart. [WSJ]

 
 

Related Articles

arrow_forward_ios
East Hampton Moves to Limit Access to its Airport (iStock, Wikipedia, Illustration by Kevin Cifuentes for The Real Deal)
East Hampton Airport to limit access from noisy aircraft
East Hampton Airport to limit access from noisy aircraft
21 Muchmore Lane in East Hampton, LI and  East Hampton Mayor Jerry Larsen (Google Maps, East Hampton Village NY Proud City)
Dispute stalls East Hampton’s $2.8M community preservation fund purchase
Dispute stalls East Hampton’s $2.8M community preservation fund purchase
313 Three Mile Harbor Road in East Hampton (Out East)
Hedge funder Heath Freeman buys East Hampton restaurant for $4M
Hedge funder Heath Freeman buys East Hampton restaurant for $4M
442 Further Lane in East Hampton and Peloton CEO John Foley (Out East, Getty)
Peloton CEO is buyer of $55M East Hampton estate
Peloton CEO is buyer of $55M East Hampton estate
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
33 Eastville Ave, Sag Harbor, NY (Google Maps)
East Hampton pursues affordable housing dev for former Baptist church
East Hampton pursues affordable housing dev for former Baptist church
12 Koala Ln, East Hampton, NY and Peloton CEO John Foley (Zillow, LinkedIn)
Peloton CEO John Foley lists East Hampton home for $4.5M
Peloton CEO John Foley lists East Hampton home for $4.5M
Lloyd and Barbara Macklowe with the home at  51 West End Avenue (Google Maps, Getty)
Harry Macklowe’s brother lists Hamptons home for $60M
Harry Macklowe’s brother lists Hamptons home for $60M
arrow_forward_ios

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

Loading...