Too low? An East Hampton estate is in contract and expected to be purchased for above its $52.5 million asking price.
The mansion is located at 442 Further Lane, the same street that houses the likes of Barry Rosenstein, Jerry Seinfeld and Lorne Michaels. The property was on the market for less than a month before entering into contract, according to the New York Post.
The 6,100-square-foot home was designed by Francis Fleetwood, who designed homes throughout the Hamptons. The house sits on four acres of property and an excess of 400 feet of oceanfront with direct beach access.
The listing on Out East describes the home with five bedrooms and five-plus bathrooms. The first floor includes a primary suite with his and hers ensuite bathrooms, a walk-in closet and a sundeck. On the second floor, there are multiple bedrooms with views of the ocean, as well as several sundecks.
Outside of the home, there is a covered seating area, a gunite pool and spa, as well as a detached garage.
Hedgerow Exclusive Properties served as the broker on the deal. The seller is the estate of Alan Seligson, who was the chairman of an aerospace parts manufacturer.
Further Lane has been the site of some of the most expensive real estate deals in East Hampton in recent years. In 2018, the biggest home sale of the year in the Hamptons took place at 290 Further Lane, a 10,000-square-foot home. The mansion, also designed by Fleetwood, was sold for $40 million, although it was originally listed for $69 million in 2016.
While the closing of the Further Lane property could exceed $52.5 million, it will still pale in comparison to another sale in East Hampton. Calvin Klein sold an 8.5-acre estate for about $85 million. He purchased the property in 1987 for just $3.6 million.
[NYP] — Holden Walter-Warner