The Real Deal New York

Hamptons Cheat Sheet: Montauk oceanfront property’s list price slashed to $39.5M … & more

By Aidan Gardiner | November 06, 2018 06:30PM

Clockwise from top left: Sagaponack home sells for $10M under 2015 ask, Oceanfront Montauk home’s price reduced to $39.5M, salamanders could complicate expansion of the Atlantic Golf Club in Bridgehampton and Ask for ex-J. Crew CEO’s 24-acre Montauk property drops to $8M.

Oceanfront Montauk home’s price slashed to $39.5M
A month after a 36-acre oceanfront property in Montauk came on the market for $48 million, its price tag was cut down to $39.5 million, according to Curbed. Frame dealer Eli Wilner and his wife bought the property in 1992 for $630,000. They then built the property’s only structure, a stucco home by Frank Hollenbeck and Men at Work Builders. The 7,000-square-foot home has five bedrooms, five bathrooms, four gas fireplaces, hand-carved doors, heated marble floors throughout, a winding wood staircase, floor-to-ceiling windows, an elevator and a home theater. The home also has two carved murals resembling similar ones found on the Normandie luxury cruise ship. Kathleen Coumou of Christie’s International Real Estate and Martha Gunderson from Brown Harris Stevens are representing the listing. [Curbed]

Ask for former J. Crew CEO’s 24-acre Montauk property drops to $8M
A 24-acre horse farm owned by the onetime CEO of J. Crew, Mickey Drexler, has had its price tag cut down to $7.95 million, Curbed reported. The Montauk property was for sale at $14.75 million in 2017 and its most recent ask is down from $9.9 million. The property has a 5,000-square-foot home with four bedrooms, three bathrooms, two fireplaces and two barns that each have an apartment. Riding trails and paddocks are also on the grounds. The property had once been offered as part of a compound with a neighboring 5.7-acre parcel that once belonged to Andy Warhol known as Eothen. Together they were priced at $85 million. The horse farm is currently listed with Chris Coleman of Saunders Real Estate. [Curbed]

After 3 years, Sagaponack home finally sells for $16M
A Sagaponack home has finally sold for $16.15 million, about $10 million lower than the pricetag it came to market under in 2015, Curbed reported. In the years since the two-acre property originally listed, the home relisted with a variety of brokers, most recently with Douglas Elliman agents Carol Nobbs and Erica Grossman. The 11,665-square-foot home was built by Jay Bialsky with landscaping by Ed Hollander. With six bedrooms, seven bathrooms and three half-bathrooms, the house features a home theater, wine room and home gym in addition to an infinity edge pool and a three-car garage. [Curbed]

Riverhead to vote on $40M sale of 1,643 acres in Calverton
The Riverhead town board will vote Wednesday on whether to approve the $40 million sale of 1,643 acres in Calverton, Long Island Business News reported. About 600 square feet of the parcel is slated to be developed into an industrial park. The buyer is a partnership between Calverton Aviation & Technology, Triple Five Worldwide Group and Luminati Aerospace. The property, which was last used by the U.S. Navy and and Northrop Grumman, has rail freight service and two runways. “What we’re putting together is a very robust program geared toward manufacturing that’s going to focus on workforce development training and become a resource center for manufacturing on Long Island,” Triple Five director of business development told the outlet. [LIBN]

Salamander could complicate expansion of Atlantic Golf Club in Bridgehampton
The former director of the East Hampton Town Natural Resources Department said the developer behind the proposed expansion of the Atlantic Golf Club in Bridgehampton hasn’t taken required steps to protect the breeding ground for the tiger salamander, according to 27east. In order to build a teaching facility at the club and a driving range, workers will have to relocate some wetlands flora and fauna. The State Department of Environmental Conservation mandates that a special permit is needed for any work that occurs within 1,000 feet of the amphibian’s breeding ground, which is believed to be on the course. The Southampton Planning Board didn’t mention the salamander when it ruled the expansion would not have a environmental review. [27east]