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
700 Meadow Lane
Serious buyers only: The 10 priciest new Hamptons listings
Serious buyers only: The 10 priciest new Hamptons listings
Solow Building Company chairman Stefan Soloviev, CEO Michael J. Hershman and vice chairman Hayden Soloviev (Solow Residential, Fairfax, LinkedIn)
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
Yorgos Tsibiridis
Hamptons agent Yorgos Tsibiridis jumps to Compass
Hamptons agent Yorgos Tsibiridis jumps to Compass
32 Windmill Lane and Andrew Saunders (Realtor)
Hefty prices, robust sales: Hamptons market thrives in Q2
Hefty prices, robust sales: Hamptons market thrives in Q2
From left: 263 Surfside Drive and Ivan Kaufman with 901 and 939 Scuttle Hole Road (Credit: VHT Studios, Arbor)
The 10 priciest Hamptons home sales of 2019
The 10 priciest Hamptons home sales of 2019
Harry Macklowe (Credit: Getty Images)
Macklowe’s brazen Hamptons act recalls Times Square scandal
Macklowe’s brazen Hamptons act recalls Times Square scandal
Jeffrey Collé and Andrew Saunders (Credit: Hampton’s Real Estate, Facebook, and iStock)
Hamptons builder pleads not guilty to assaulting Andrew Saunders
Hamptons builder pleads not guilty to assaulting Andrew Saunders
Helmut Lang and an aerial of the Hamptons (Credit: Getty Images and Google Maps)
Helmut Lang’s East Hampton compound could list for a massive $100M
Helmut Lang’s East Hampton compound could list for a massive $100M
arrow_forward_ios

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

Loading...