Priciest Hamptons foreclosure set to hit market

March 06, 2012 10:00AM

The largest and most expensive foreclosed property on the East End will be listed this week by the bank that took control of it , the New York Post reported.

The 9,673-square-foot mansion, at 19 Sunninghill Road in Southampton, was foreclosed on in October and could be marketed this week by foreclosure broker Kristopher Pilles for between $1.8 million and $2 million on behalf of JPMorgan Chase.

It’s one of more than 1,000 properties worth at least $1 million reportedly in distress in the Hamptons, where the real estate market seems to be struggling despite early reports of an active rental environment spurred by mild weather.

The property is owned by Eric Keller, who lives next door and divided his land in 2008 to make room for the seven-bedroom, six-bathroom home with an indoor pool on 5.2 acres. Keller couldn’t find a buyer and tried to sell it for $2.5 million in a short sale last summer. But JPMorgan took control of the property, assessed at $2.28 million, in October. [Post]