The Real Deal New York

Hamptons Cheat Sheet: Kennedy family compound in Bridgehampton lists for $35M … & more

September 11, 2018 05:30PM

Clockwise from top left: East Hampton home slashes price down to $14M, Shinnecock tribe struggles to raise $185K to buy build site where bones were found, Southampton home back on the market for $9.5 million and Kennedy family compound in Bridgehampton lists for $35M.

Kennedy family compound in Bridgehampton lists for $35M
A Sagaponack Pond compound that boasts connections to American royalty has just hit the market for $35 million, Mansion Global first reported. One of the two parcels in the compound is owned by the estate of Joseph P. Kennedy, father of President John F. Kennedy. The other is owned by the patriarch’s last surviving daughter, Jean Kennedy Smith, 90. The 6,000-square-foot main house, which is owned by Jean, was built in 1850 and sits on 4.9 acres on the water’s edge. It has six bedrooms, six bathrooms, a dock, a pool and a tennis court. The other cottage, at 2,850 square feet, contains four bedrooms, has its own pool within the property’s 5.27 acres, according to Mansion Global. Corcoran’s Michael Schultz and Susan Ryan are handling the listing. [Mansion Global]

112-year-old East Hampton home gets a $2M price chop
Jack Grubman, the former managing director of the investment bank Salomon Smith Barney, just lowered the price of his 7,000-square-foot East Hampton home by more than $2 million, from its original $16.9 million ask, Curbed reported. Grubman bought the property for $7 million in 2000 and is now listing it for $14,495,000. The home, built in 1906, has seven bedrooms, six bathrooms, two half bathrooms, vaulted ceilings in the living room, a paneled library, an eat-in kitchen, a fireplace and a private sun porch. In 2002, Grubman renovated the whole thing and built a 1,200-square-foot guest house with a double-height great room, bluestone floors, a full kitchen and a bedroom suite. The property also has a heated pool, a Har-Tru tennis court and a three-car garage. Frank Newbold and Beate Moore of Sotheby’s International Realty are handling the listing. [Curbed]

Southampton officials troubleshoot plan to buy site where Shinnecock remains were found
Southampton Town officials want to buy the construction site in Shinnecock Hills where bones believed to belong to an ancient tribal leader of the Shinnecock Indian Nation. Regulations prevented them from paying the full amount demanded by the property’s owner, KB Southampton LLC of Water Mill, who asked for $185,000 more than the $390,000 it was appraised for. Tribe members have tried to raise the $185,000 but fallen short. Town officials had wanted to tap the Community Preservation Fund for the purchase, but rules bar spending more than market rate. Town Supervisor Jay Schneiderman has met with the owner to try to identify the improvements the appraisal may have missed. These may help boost the appraised value, which could allow officials to use government funds. [27east]

Southampton home back on the market for $9.5M
A 5,500-square-foot home in Southampton village that was last sold in 2005 for $5.2 million is asking for $9.95 million. The home, which was built in 1988, has six bedrooms, six-and-a-half bathrooms, hardwood floors, a sunken living room with a fireplace and a sun parlor. Also on the one-acre property are a heated gunite pool, covered porch, separate yards and an attached garage. Before its most recent sale, the home had been listed in 2003 for $2.4 million. It was listed again in 2015 for $8.9 million, but then taken off the market. [Curbed]

Water Mill Village townhouses won’t have environmental impact, panel says
The Southampton Town Planning Board finished its environmental review of a 38-unit townhouse complex in Water Mill and declared that it wouldn’t harm the environment, area aesthetic or transportation. Officials did ask that developers did need more “traffic calming” measures like crosswalks and speed bumps. When finished, the townhouse complex will also have a clubhouse, swimming pool and sewage treatment plant. The property’s owner, Watermill Village Associates II LLC would be open to adding the traffic calming measures, according to their attorney Mary Jane Asato. Four of the units will he reserved to affordably house low-income residents. [27east]