Priciest Hamptons foreclosure set to hit market

TRD 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
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
Companies are relying on surveys and other data points to determine who will come back to offices first. (iStock)

How do companies decide who should return to offices first? It’s tricky

How do companies decide who should return to offices first? It’s tricky
Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)

Deutsche Bank: Employees can stay home until mid-2021

Deutsche Bank: Employees can stay home until mid-2021
Jamie Dimon and 383 Madison Avenue (Getty, Google Maps)

JPMorgan suffers setback in return to office

JPMorgan suffers setback in return to office
JPMorgan Chase CEO Jamie DImon and 410 Madison Avenue (Getty Images, Google Maps)

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ
JPMorgan Chase's Jamie Dimon and Fortress Investment Group's Wes Edens (Dimon via Mark Wilson/Getty Images; Edens via Scott Olson/Getty Images)

JPMorgan, Fortress are the latest firms to build up war chests

JPMorgan, Fortress are the latest firms to build up war chests
arrow_forward_ios

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

Loading...