It should be worth the wait.
After sitting on the market for nearly four years, the massive estate at 90 Jule Pond Drive is finally under contract, Bespoke Real Estate announced on Instagram.
The property had spent almost two years asking $145 million after initially hitting the market in 2017 priced at a mind-numbing $175 million. The agreed-upon price was not disclosed, but Bespoke called it the highest ever paid for a single Hamptons property.
Last year had some transactions with hefty price tags, but none close to what the Jule Pond Drive compound apparently fetched. The top sale in 2020 was billionaire Ken Griffin’s purchase of Calvin Klein’s onetime compound at 650 Meadow Lane in Southampton for $84.4 million.
The Jule Pond Drive property was co-listed with Bespoke and Julia B. Fee Sotheby’s International Realty. Bespoke represented the buyer and seller in the deal. The New York Post first reported the news.
The estate was built in 1957 by Henry Ford II, grandson of the famed automaker, and was known as Fordune. The seller, according to property records, is Brenda Earl, a former partner at hedge fund Zweig-Dimenna. She purchased the property in 2002 for around $22 million.
Situated on 42 acres, the estate includes a 20,000-square-foot main house with 12 bedrooms, 12 full bathrooms and three partial bathrooms. It features a swimming pool, tennis and basketball courts and an outdoor kitchen. Its many indoor amenities include a billiards room and gym.
The compound is advertised as having the largest ocean frontage in the Hamptons, spanning nearly a quarter mile, although it is not a beachfront home. Bordering the property is protected and preserved land, adding a quarter-mile of ocean frontage.
Hamptons real estate has been sizzling virtually since the pandemic hit a year ago. Buyers have rushed to purchase secondary homes, driving up demand and draining supply — which was low because many owners wanted pandemic refuges for themselves.
The 803 Hamptons homes sold in the fourth quarter of 2020 was the highest quarterly total in 15 years, according to a report from Douglas Elliman.
“These transactions, coupled with the momentum we have seen across all luxury markets, signify what we expect to be the new wave of luxury purchases,” Bespoke’s Instagram announcement said.
Representatives for Bespoke did not immediately respond to requests for comment. Julia B. Fee Sotheby’s International Realty declined to comment.