The priciest home sales in the Hamptons in 2017 lacked the “wow” factor seen in prior years.
While the top 10 mansions all sold for comfortably over $20 million, some had lingered on the market for years, and most had been steeply discounted. One house spent eight years on the market before being bought by the Carter-Knowles family (better known as Beyonce and Jay-Z), while a house that was once listed for $45 million sold for $24 million.
Check out the top 10 residential sales in the Hamptons of 2017 below:
1. 328 Gin Lane, Southampton
Broker: Sotheby’s International Realty, Beate Moore
Seller: Estate of John F. Poster
Buyer: Gin Lane II LLC
The priciest house on the list belonged to John F. Poster, a car-parts mogul who passed in 2014. The 2,500-square-foot home at 328 Gin Lane in Southampton sold for $31 million, down from an original ask of $39.5 million. The property spans 2.6 acres and has 200 feet of private beach, plus a tennis court and a heated pool. The four-bedroom home was built in 1950, after the original home on the property was destroyed in a hurricane in 1938. Poster paid $175,000 for the home in 1984.
2. 211 Lily Pond Lane, East Hampton
Broker(s): Sotheby’s International Realty’s Rebekah C. Baker
Seller: Invescorp International LLC
Buyer: Eric and Lori Blatstein
An oceanfront home in East Hampton, which had been rented by Bill and Hillary Clinton in the past, sold for $29 million to businessman Eric Blatstein. The Clintons rented the eight-bedroom home at 211 Lily Pond Lane in 2011 and 2012, when it was listed for rent for $150,0000 a month. In 2015, the owners put the landmarked 10,000-square-foot on the market for $31.5 million. The property comes with 200 feet of ocean frontage and a guest, and the 1920s-era home has nine bathrooms, five fireplaces and a heated pool.
3. 7 Olde Towne Lane, Southampton
Broker(s): Corcoran Group’s Tim Davis and Gary DePersia; Sotheby’s International Realty’s Harald Grant; Douglas Elliman’s Erica Grossman and Michaela Keszler
Seller: Old Towne Southampton Associates LLC
Buyer: Oldetownhouse LLC
A brand new, 10-bedroom home at 7 Olde Town Lane sold for $26 million in February. The 17,400-square-foot home is part of an eight-lot development, built by Kean Development on a 44-acre property that was once a farm. Kean took it over from East End Development’s Bobby Gianos, a developer who had received the approvals to develop the property back in 2007. A neighboring home in the development, 9 Olde Town, is on the market asking $39 million, down from $45 million.
4. 81 Briar Patch Road, East Hampton
Broker: Compass’ Lori Schiaffino
Seller: MMR Real Estate Holdings LLC
Buyer: Briar 81 LLC
Queen Bey and Jay-Z are the illustrious buyers of a 12,000-square-foot home in East Hampton for $29.5 million, their first purchase in the Hamptons. The seven-bedroom home at 81 Briar Patch Road spent eight years on the market before the sale to the Carters, and started with a $39.5 million asking price. It is known as the Pond House and the previous owners had it rotated 90 degrees to maximize sunset views.
5. 32 Middle Lane, East Hampton
Broker(s): Douglas Elliman’s Paul Brennan and Ronald White
Seller: Estate of Texas financier Daniel Breen
Buyer: 32 Middle Lane LLC
An East Hampton home built by a starchitect of the 1930s came in fifth with a $25 million price tag. The 8,268-square-foot home at 32 Middle Lane also sat on the market for a while, starting at $38.5 million in 2012. The six-bedroom home sits on more than five acres of land, and comes with a pond, a guest house and a pool. It was built in 1931 by Aymar Embury II, who worked on several New York City landmarks like the Central Park Zoo, the Prospect Park Zoo and McCarren Park.
6. 1510 Meadow Lane, Southampton
Broker: Corcoran Group’s Tim Davis
Seller: Lynne Pasculano
Buyer: Never Squabble LLC
A three-acre property with views of both the Atlantic Ocean and Shinnecock Bay sold for $24.6 million. The six-bedroom home on the property was built by Francis Fleetwood in 2000, and spans 5,500 square feet. The listing describes the house as “party-friendly” with an ocean-facing bluestone terrace that’s perfect “to en enjoy lobster rolls, clam bakes, and cocktails.” Sounds fun!
7. 500 Captain Neck Lane, Southampton
Broker(s): Sotheby’s International Realty’s Ritchey Howe and Molly Ferrer
Seller: Captains Neck LLC
Buyer: 500 CPL LLC
This 6.6-acre property comes with a main home, several cottages, and a dock with creek access. The buyer dropped $24 million for the property, which comes with 13,000 square feet of living space, 10 bedrooms and 11 bathrooms. It was listed for $35 million in 2016 and was last listed for $27.5 million. The seller was the estate of Todd Goodwin, a former partner at private equity firm Gibbons, Goodwin, van Amerongen. He died in April 2017.
8. 101 Pheasant Lane, Southampton
Broker(s): Douglas Elliman’s Erica Grossman and Michaela Keszler; Sotheby’s International Realty’s Harald Grant
Seller: Murray Marie and Sh (2014) LLC
Buyer: Caymus LLC
A nine-bedroom spec house across two acres of land in Southampton sold for $24 million. The property comes with 15,700 square feet of living space, and is located on the Murray compound. On the landscaped grounds is a tennis court, pool house and infinity pool. The seller was Sbarro’s pizza heir Anthony Sbarro.
9. 316, 318, 320, 324, 334 Cobb Road, Water Mill
Broker(s): Bespoke Real Estate’s Zachary Vichinsky and Cody Vichinsky
Seller: Maran family
Buyer: 316 Cobb Road LLC, 318 Cobb Road LLC, 320 Cobb Road LLC, 324 Cobb Road LLC, 334 Cobb Road LLC
A buyer picked up six lots on Cobb Road in Water Mill for $23.5 million spanning a total of 4.6 acres. It appears to be the same buyer who bought an additional three lots along Cobb Road in 2015 for $27 million, at least one of which, 328 Cobb Road, is an oceanfront property with a 7,000-square-foot home.
10. 500 Old Town Road, Southampton
Broker(s): Bespoke Real Estate’s Zachary Vichinsky and Cody Vichinsky
Seller: 500 Old Town LLC
Buyer: Otr Property LLC
This seven-bedroom, brand-new home on two acres of land sold for $22 million. On the grounds at 500 Old Town Lane, there is a tennis court, pool and two cabanas, and the home comes with views of the ocean and Old Town Pond. The seller bought the previous home for just $6.7 million in 2013. The buyer appears to be real estate investor David Luski, president of DRE Advisors.
|Hamptons top residential sales of 2017|
|Rank||Address||Price||Sale date||Listing brokerage||Seller||Buyer|
|1||328 Gin Lane, Southampton||$31 million||May 3, 2017||Sotheby's International Realty, Beate Moore||Estate of John F. Poster||Gin Lane II LLC|
|2||211 Lily Pond Lane, East Hampton||$29 million||September 11, 2017||Sotheby's International Realty's Rebekah C. Baker||Invescorp International LLC||Eric and Lori Blatstein|
|3||7 Olde Towne Lane, Southampton||$26 million||February 2, 2017||Corcoran Group's Tim Davis and Gary DePersia; Sotheby's International Realty's Harald Grant; Douglas Elliman's Erica Grossman and Michaela Keszler||Old Towne Southampton Associates LLC||Oldetownhouse LLC|
|4||81 Briar Patch Road, East Hampton||$25.925 million||August 15, 2017||Compass' Lori Schiaffino||MMR Real Estate Holdings LLC||Briar 81 LLC|
|5||32 Middle Lane, East Hampton||$25 million||April 14, 2017||Douglas Elliman’s Paul Brennan and Ronald White||Estate of Texas financier Daniel Breen||32 Middle Lane LLC|
|6||1510 Meadow Lane, Southampton||$24.6 million||May 26, 2017||Corcoran Group's Tim Davis||Lynne Pasculano||Never Squabble LLC|
|7||500 Captains Neck Lane, Southampton||$24 million||December 19, 2017||Sotheby's International Realty's Ritchey Howe and Molly Ferrer||Captains Neck LLC||500 CPL LLC|
|8||101 Pheasant Lane, Southampton||$24 million||October 18, 2017||Douglas Elliman's Erica Grossman and Michaela Keszler; Sotheby's International Realty's Harald Grant||Pizza heir Anthony Sbarro||Caymus LLC|
|9||316, 318, 320, 324, 334 Cobb Road, Water Mill||$23.5 million||April 26, 2017||OFF MARKET: Bespoke Real Estate's Zachary Vichinsky and Cody Vichinsky||Maran family||316 Cobb Road LLC, 318 Cobb Road LLC, 320 Cobb Road LLC, 324 Cobb Road LLC, 334 Cobb Road LLC, 336 Cobb Road LLC|
|10||500 Old Town Road, Southampton||$22.15 million||March 8, 2017||Bespoke Real Estate's Zachary Vichinsky and Cody Vichinsky||500 Old Town LLC||Otr Property LLC|
|11||675 Hedges Lane, Sagaponack||$21 million||September 1, 2017||Saunders & Associates' Lilly de la Motte||675 Hedges Land LLC||HLP LLC|
|12||1285 Flying Point Road, Southampton||$20.5 million||May 25, 2017||Douglas Elliman' Lynda Packard; Saunders & Associates' Alfredo Barreto; Corcoran Group's Gary DePersia||Melinda Cheng Ooi Ling, Tony Cheng Siu Wing||Lewis And Clark LLC|
|13||97 Mid Ocean Drive, Bridgehampton||$19.5 million||December 29, 2017||Bespoke Real Estate's Zachary Vichinsky and Cody Vichinsky||97 Mid Ocean LLC||n/a|
|14||55 Trees Lane, Sagaponack||$18.325 million||June 1, 2017||OFF MARKET: Bespoke Real Estate's Zachary Vichinsky and Cody Vichinsky||55 Trees LLC||55tl LLC|
|15||138 Seascape Lane, Sagaponack||$16.85 million||July 20, 2017||Bespoke Real Estate's Zachary Vichinsky and Cody Vichinsky||Christian and Marie Nagel||Seascape Carey LLC|
|Source: The Real Deal analysis of PropertyShark data, public listings, news articles and industry sources.|
Correction: Due to a research error, the listing agents were incorrectly identified in 500 Old Town Road. The correct agents are Bespoke Real Estate’s Zachary Vichinsky and Cody Vichinsky. In addition, Michaela Keszler was left off as an agent on 101 Pheasant, and has been added.