Hamptons Cheat Sheet: Riding the pricing roller coaster for a historic East Hampton compound, demolition set for Amagansett barn … & more

TRD New York /
Nov.November 28, 2017 02:25 PM
The Hamptons News

Clockwise from top left: A modern home in Hamptons Bays sold for $3 million, a Georgica Pond compound on the market for $30 million, the late jazz great Chico Hamilton, and East Hampton Town is looking to tear down this barn.

East Hampton compound with roller coaster listing history back on the market 
Two neighboring lots on Chauncey Close in East Hampton with more than seven acres of waterfront land are back on the market for just under $29.5 million. Even if you buy the separately listed $19.5 million home that sits on one of the lots — for a grand total of about $49 million — it’s a relative bargain from the compound’s last listing price of $85 million. The Georgica Pond properties were first listed together with the existing home for $45 million then $32 million and then, earlier this year for $85 million when plans for the construction of a new 14,000-square foot home were also included. Those plans are no longer offered in the listing. The 6,000-square-foot house at 19 Chauncey Close has five bedrooms and five bathrooms and boasts historic wood beams that were once part of Anne Boleyn’s estate in Kent. Owned by the late investment banker Carl Tiedemann, the properties were once part of a historic working dairy farm, Cove Hollow Farm. [Curbed]

Barn on Amagansett farm bought by preservation fund to be torn down
Using the Community Preservation Fund, East Hampton Town in 2014 bought 19 acres of farmland for $10.1 million to block a 79-unit luxury housing development. The town intended to lease the land at 551 Montauk Highway to a farmer, but now it is seeking bids to demolish the barn on the property and use the land for “passive recreation” like hiking trails, the East Hampton Star reported. The barn “was not a well-built building,” according to Council member Peter Van Scoyoc. While East Hampton Town had six agricultural-based proposals to use the property in 2014, the Town Board reversed course after members of the public called for the land to be left as an open vista. [27East]

Hedge funder Leon Shaulov in contract to buy Southampton pad for $32M
Leon Shaulov, a hedge fund manager and former trader at the now-infamous Galleon Group, is paying $32 million for a four-bedroom, 7,200-square-foot beachfront home at 134 Murray Lane in Southampton, The Real Deal reported. With 200 feet of beachfront, the two-acre property was listed for $35 million. Shaulov had been a senior trader with the Galleon Group, which closed in 2009 due to an insider trading scandal, which landed CEO Raj Rajaratnam in prison. [TRD]

New faces at Hamptons offices of Corcoran and Elliman
James K. Peyton, who had been with Douglas Elliman, has joined Corcoran’s Bridgehampton office. Peyton previously had been a part of Raphael Avigdor’s team in Elliman’s Southampton office for four years, Behind the Hedges reported. Elliman is also welcoming a new face to the East End roster. Debora Oppenheimer, who has more than 10 years’ experience investing in real estate and developing property in New York, is joining its Sag Harbor office. [Behind the Hedges]

Late jazz great Chico Hamilton’s Springs home demolished
Late jazz musician Chico Hamilton’s home in Springs was demolished this week, as East Hampton Town, which owns the property, plans to preserve the land as open space. Hamilton died four years ago at age 92, and the town bought the property from the Hamilton Family Trust for $900,000 using the Community Preservation Fund, 27 East reported. The home in the Clearwater Beach section of Springs was not a historic building, but contained memorabilia from the drummer’s long and storied career. [27East]

Hamptons Bays sees two $3M sales
Hampton Bays, which has a median home price of just $440,000, has generally seen fewer high-end luxury sales than other Hamptons towns. But two recent home sales of over $3 million may indicate that the town will see a strong fourth quarter. A property just shy of one acre on North Shore Road, which features a newly renovated four-bedroom, three-bathroom house, just sold for $3 million, 27 East reported. Nearby, restaurant owner Anthony Scotto sold his four-bedroom home for just under $3 million after originally listing the property for nearly $4 million in 2016. In the third quarter, the area had seen no home sales over $2 million, according to Town and Country’s report. [27East]

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