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

Clockwise from left: Kings Plaza Shopping Center in Brooklyn, 45-18 Court Square  in Long Island City with GFP's Eric Gural, and 150-13 89th Avenue in Jamaica 

Brooklyn mall’s $487M tops outer-borough loan list

Former WeWork CEO Adam Neumann (Credit: Getty Images and iStock)

Meet the financial backers behind WeWork’s rise and fall

Kings Plaza Shopping Center and JPMorgan's Jamie Dimon 

Macerich lands nearly $500M refi for Kings Plaza Shopping Center

The Daily Digest - Tuesday

WeWork bonds hit low, new LLC legislation went farther than intended: Daily digest

Clockwise from top left: The Watchtower building at 25 Columbia Heights, Long Island University at 1 University Plaza, The Rheingold at 10 Montieth Street and 871 Bushwick Avenue in Brooklyn (Credit: Wikipedia and Google Maps)

These were the top 10 outer borough loans last month

Wells Fargo, JPMorgan Chase and Citigroup each recorded a rise in second quarter profits in their consumer divisions (Credit: iStock)

Banks see uptick in mortgages, but remain wary ahead of potential Fed interest rate cut

Clockwise from top left: 54 Crown Street, 451 10th Avenue, 46-09 69th Street and 270 Park Avenue (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

Mack Real Estate Group's Richard Mack and JPMorgan's Jamie Dimon with a rendering of 123 Melrose Street (Credit: Getty Images and ODA Architecture)

Yoel Goldman sews up long-term funds for Rheingold Brewery Project