The Real Deal New York

Hamptons Cheat Sheet: Gurney’s in talks to buy Montauk Yacht Club, developer Joe Farrell lists his Bridgehampton “Sandcastle” for $50M, … & more

By James Klatell | March 20, 2018 02:40PM

Clockwise from top left: Skin-care mogul Trish McEvoy is asking $23.5 million in Southampton, the Montauk Yacht Club & Marina is reportedly a target for the owners of Gurney’s, a tiny Sag Harbor cottage sold above list price in about a month, and Joe Farrell listed his Bridgehampton “Sandcastle” for $50 million.

Gurney’s in talks to buy Montauk yacht club
The owners of Gurney’s Montauk Resort and Seawater Spa are in talks to buy the Montauk Yacht Club & Marina, the New York Post reports. New Jersey-based developer George Filopoulos bought Gurney’s in 2013 and bought the neighboring Panoramic View in 2016 with partner Lloyd Goldman. Owned by developer Andrew Farkas’ Island Global Yacht, the Montauk Yacht Club has 232 boat slips, 107 hotel rooms and two restaurants. [NY Post]

Joe Farrell lists “Sandcastle” megamansion in Bridgehampton for $50M
Developer Joe Farrell has listed his 15-bedroom Bridgehampton mansion known as the “Sandcastle” for $50 million, the New York Post first reported. The 11.5-acre Halsey Lane property boasts amenities like a spa, bowling alley and baseball field, the New York Post reported. Celebrities like Jay-Z and Beyoncé have rented the home. The Hamptons-based Farrell listed the mansion for $43.5 million in 2013 but opted not to sell, despite an offer meeting the asking price. [TRD]

Cosmetics entrepreneur lists Southampton mansion for $23.5M
Cosmetics entrepreneur Trish McEvoy and her dermatologist husband Ronald Sherman have listed their 8,500-square-foot Southampton home for $23.5 million. The 2.4-acre Squabble Lane property is “three houses from the ocean” according to the Wall Street Journal, and has deeded beach access. McEvoy and Sherman bought the seven-bedroom, nine-bathroom house from Elena Ford for $5.495 in 2000. [WSJ]

Tiny Sag Harbor fixer-upper sells $115K above ask
A 750-square-foot cottage in Sag Harbor sold for $965,000, earning $115,000 more than the asking price. The two-bedroom, one-bath fixer-upper was on the market for a month before going into contract. Michael Daly of Douglas Elliman had the listing for the quarter-acre property on Grand Street. [Curbed]

Southampton draws first two names in affordable housing lottery
Southampton’s new affordable housing development Tuckahoe Woods has its first possible owners, after the town held a lottery drawing last week. Of the 252 people who applied, James White of Southampton and Jen Tabares of Hampton Bays will each have the chance to buy a newly built home for $332,400 — far less than the $1 million estimated market value. The lottery winners will need to prove they meet maximum income levels set by the Department of Housing and Urban Development before they are allowed to purchase the homes. [Southampton Press]