The Real Deal New York

Hamptons Cheat Sheet: Developer files $100M lawsuit over rejected East Quogue luxury golf course project … & more

By Aidan Gardiner | April 18, 2018 07:30AM

CLockwise from top left: Vornado’s Steven Roth is listing Bernie Madoff’s onetime Montauk home for $21M, a developer has filed a $100M lawsuit against Southampton for blocking its project, George Stephanopoulos found a buyer for his Southampton home and a group of three properties on Sag Harbor’s Main Street are on the market for $12M.

Developer files $100M lawsuit over rejected East Quogue luxury golf course project
The Discovery Land Company said the Southampton Town Board was “unconstitutional and unlawful” when it rejected the company’s “The Hills at Southampton” proposal in December, according to 25 East. The developer had hoped to build 118 luxury housing units and an 18-hole golf course on 600 acres. But the town shot it down in December, citing environmental concerns. The developer, in its lawsuit, demands the town overturn the votes against its project, pass a law allowing the development to move forward, and for the town to pay $100 million in damages along with attorney fees. [27East]

Bernie Madoff’s old Montauk beach house lists for $21M
The Ponzi schemer’s home, which is now owned by Vornado CEO Steven Roth, hit the market for $21 million. In 2009, Roth bought the 3,000-square-foot home for $9.4 million from the U.S. Marshals, who then gave the money to Madoff’s victims. Designer Thierry Despont renovated the home, which has three bedrooms, three bathrooms and a two-story great room with a 30-foot-high stone fireplace. Gary DePersia and Joan Hegner of the Corcoran Group are handling the listing. [TRD]

Sag Harbor plot with both retail and residential lists for $12M
An assemblage of three contiguous properties with both retail spaces and apartments on Main Street has listed for $12 million, according to the East Hampton Star. The plot has six shopfronts in total, with apartments on the second floor. Saunders Realty’s Lee Minetree is the agent on the listing. Town officials said they don’t anticipate that the new owner will disrupt the town, placing faith in existing building codes and rules. [East Hampton Star]

East Hampton Village mulls new law to bar pool houses from becoming second homes
Town board members want to prevent new pool houses from being built to be used as second residences, the East Hampton Star reported. They plan to discuss a new law at their upcoming work session. The law would make any new pool houses or renovated ones to be more austere, without heating, insulation or air conditioning. They’d also be limited to one room with a sink and a powder room, but no showers and they could only be built on properties where a pool already exists. [East Hampton Star]

Sagaponack mansion with a golf room lists for $23.5M
A soon-to-be-finished mansion is on the market, after a limited liability company bought it for in September for only about $6.7 million. The 11,000-square-foot home will have eight bedrooms, 11 full bathrooms with three half bathrooms. Numerous amenities in the home include a sunken tennis court, a golf room, a 60-foot gunite pool and gym. Saunders Realty’s Terry Cohen is the agent on the listing. [Curbed]

George Stephanopoulos snags buyer for Southampton home
The former aide to President Clinton and his wife Ali Wentworth are in contract to sell their Southampton home. They relisted their home in January at $5.9 million after they’d put it on the market a year before with no success in finding a buyer. The 4,381-square-foot home has six bedrooms, seven full bathrooms with one half bathroom and a ground-floor master suite with a private library. It also features a gym, pool, tennis court and a 1,000-bottle wine cellar. [Curbed]