Priciest Hamptons foreclosure set to hit market

New York /
Mar.March 06, 2012 10:00 AM

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]


Related Articles

arrow_forward_ios
JPMorgan CEO Jamie Dimon and 270 Park Avenue (Getty, Google Maps)
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
David Wolkoff of G&M Realty. (Getty, 5Pointz LIC)
Wolkoff family firm snags $350M loan for 5Pointz
Wolkoff family firm snags $350M loan for 5Pointz
The “flexible hybrid model” is set to debut in July in North America (iStock)
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
55-15 Grand Avenue, Queens; Phil A. Belling of LBA Realty; Jamie Dimon of JPMorgan Chase (Getty, RXR/BL Architects)
LBA lands $316M loan for Amazon warehouse in Maspeth
LBA lands $316M loan for Amazon warehouse in Maspeth
 JPMorgan’s Marianne Lake (Getty, iStock)
JPMorgan walks back some mortgage constraints
JPMorgan walks back some mortgage constraints
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)
JPMorgan eyes $600M valuation for Third Ave office tower
JPMorgan eyes $600M valuation for Third Ave office tower
Cushman & Wakefield CEO Brett White and JPMorgan CEO Jamie Dimon (Cushman & Wakefield; Getty)
Cushman’s $3B debt load poses default risk
Cushman’s $3B debt load poses default risk
JPMorgan Chase CEO Jamie Dimon (Getty, iStock)
JPMorgan wants to invest $700M building rentals in Sun Belt states
JPMorgan wants to invest $700M building rentals in Sun Belt states
arrow_forward_ios

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

Loading...