Hamptons Cheat Sheet: Market weathers dismal first quarter, Grey Gardens manse slashes price … & more

New York /
Apr.April 26, 2017 04:45 PM

Hamptons market report: prices went up, sales went down

The Hamptons’ sales volume in the first quarter of 2017 was down more than 27 percent compared to the same period last year, according to Town & Country data. The number of sales also decreased by 22 percent, with just 269 homes sold. Prices, though, remained on an upward trajectory. The median sale price was just over $1.1 million this quarter — a 13 percent increase compared to the first quarter of 2016. Let’s hope the dry spell doesn’t last. [Curbed]

“Grey Gardens” house slashes price by $2 million

The Edies would be disappointed. The nine-bedroom estate formerly inhabited by socialite Edith Beale and her daughter — made famous through the 1975 cult classic documentary, “Grey Gardens” — has lingered on the market for over two months. Now, its owner Sally Quinn has slashed the $20 million ask to $17.995 million, Curbed reported. Quinn and her late husband, legendary Washington Post editor Ben Bradlee, bought the home for $220,000 in 1979. Corcoran Group’s Michael Schultz and Susan Ryan have the listing. [LLNYC]

Price tag for Georgica Pond digs doubles to $85M, but it’s marketed as a teardown

After sitting on the market for a year with an ask of $45 million and then $32 million, this seven-acre compound is taking a radical approach: drawing up plans for a yet-to-be-built megamansion, and doubling the price. Owner Carl Tiedemann, the founder of Tiedemann Investment Group who died last year, built the existing 6,100-square-foot residence in 1990. The new plans revealed in the listing, courtesy of Compass’ Lori Schiaffino, call for a 14,000-square-foot house with six bedrooms, a gym, a screening room, a greenhouse, and formal gardens on the grounds. Georgica Pond is high-roller territory, boasting residents like Ron Perelman, Harry Macklowe, and Steven Spielberg. David Geffen sold his estate on West End Road for $67 million last year. [TRD, WSJ]

Former Rogers Memorial Library will temporarily house a home design store

Who said brick-and-mortar was dead? Old Kings Lane, an interior design retail shop, will be opening a seasonal storefront in the former Rogers Memorial Library at 11 Jobs Lane, Curbed reported. Built in 1895, Tudor-style property was designed by R. H. Robertson, known for his design of the Park Row Building in TriBeCa and the Lincoln Building in Union Square. This is the first time the property will be used as a retail space. One Kings Lane will offer clients one-on-one consultations with interior designers at its summer pop-up location, open from Memorial Day to Labor Day. [Curbed]

Second ginormous sale of the season had $25M price tag 

Summer in the Hamptons is just around the corner, after all. The 8,268-square-foot home of the late Texas financier Daniel Breen sold last week for $25 million, the New York Post reported. The home at 32 Middle Lane was asking just under $30 million at the time of the sale. Built in 1931 and designed by Aymar Embury II, the residence contains six bedrooms, five bathrooms, and three half-baths. Spanning over five acres, the compound features a chef’s kitchen, formal dining room, pool, pond, and guesthouse. Paul Brennan and Ronald White of Douglas Elliman had the listing. [NYP]


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