The Real Deal New York

Hamptons Cheat Sheet: Sagaponack farm listed for $12.5M goes into contract after only 3 months … & more

By Aidan Gardiner | August 28, 2018 06:30PM

Clockwise from top left: Home with views of Wainscott Pond cuts price down to $14.5M, Sagaponack farm with Titanic past in contract for $12.5M after 3 months, Billy Joel wants his Sag Harbor home in line with federal standards but neighbors say it’d ‘erase’ history and Onetime Southampton site of Villa Medici replical sells for $11.5M.

Sagaponack farm listed for $12.5M goes into contract after only 3 months
A swift buyer snapped up a Sagaponack farmhouse that had only been on the market for only three months, Curbed first reported. The home’s last listing price was $12.5 million. The 2,600-square-foot farmhouse, which was built in the 1920s, has two bedrooms, while a newly-built 7,300-square-foot main house has another four bedrooms. A barn that once stored potatoes has since been renovated, now containing three horse stalls, a groom’s lounge with a full bathroom and a lofted sitting area. The 10-building, three-acre compound also includes a sunken terrace, hot tub and a heated saltwater gunite pool. Dana Trotter of Sotheby’s International Realty, who handled the listing, noted that there were about 50 brokers in attendance at the home’s open house, telling Curbed: “I have been doing this over 20 years and have never had the response to a new listing like this.” [Curbed]

Wainscott home with pond views gets a $1.5M price chop
The seller of a 7,300-square-foot home with views of Wainscott Pond has chopped the list price down by $1.5 million after three months on the market, Curbed reported. The two-story home, built in 1992, has eight bedrooms, seven-and-a-half bathrooms, several entertaining areas, a double-height living room, library, open kitchen, gym, wine cellar and laundry room. Outside, it also has a heated gunite pool. The property now listed for $14.5 million last sold in 1995 for $3.42 million. Michael Schultz of the Corcoran Group is the agent handling the listing. [Curbed]

Sag Harbor officials ask developer Jay Bialsky to shrink condo project plan
Developer Jay Bialsky’s proposed West Water Street condominiums are too tall, according to Sag Harbor Village Zoning Board of Appeals officials. The proposed condos would sit next door to the John Steinbeck Waterfront Park, which is currently under construction, 27East reported. Bialsky has applied for variances to build 15 feet closer to the street than is currently allowed and to build the three-unit structure 46-feet-tall — 11 feet higher than the 35-foot maximum. Town officials want Bialsky to bring the height down to have the building more closely resemble existing structures in the area. One resident at zoning board hearing, Gigi Morris, said the 46-foot height would “crook the neck of people passing by.” [27east]

Southampton site of Villa Medici replica sells for $11.5M
The plot where wealthy attorney Albert Barnes Boardman once erected his House of a Thousand Flowers has been picked up for $11.5 million. When Boardman bought 10 acres in Southampton in 1910, he set about building a four-story replica of the Villa Medici in Rome, dubbing his own creation Villa Mille Fiore or House of a Thousand Flowers. Restaurateur Jan Mitchell bought the property in 1960 and replaced the lavish mansion with a 6,000-square-foot home for him and his family. Mitchell’s family split the property into two parcels, selling off 5.6 acres several years ago for $13.7 million. The remaining land just sold to 180 Great Plains Road LLC for $3.5 million less than the $15 million it was listed for in 2016. Susan Breitenbach of the Corcoran Group was the agent on the listing. [27east]

Billy Joel wants his Sag Harbor home in line with federal standards but neighbors say it’d ‘erase’ history
Should he leave a tender moment alone? At a public hearing, Sag Harbor Village residents blasted the piano man’s plans to elevate a 19th-century building on his property to bring it in line with FEMA standards. It’d “erase” history and create a “McMansion” in the heart of their historic village, they said, according to Newsday. An attorney with the community group Save Sag Harbor argued that raising the building would create a continuous roofline, thereby hiding how the town’s architectural style evolved. Joel first proposed the changes to his home in 2016, but his plans have been continuously revised since. Sag Harbor architect Anthony Vermandois noted that he did not care for Joel’s music, but felt the changes would be good given rising sea levels in the area. The matter will be revisited at the board’s September 13 meeting. [Newsday]