Sagaponack mansion lists for $32M in East End’s supply-constrained market

Hamptons buying frenzy has slowed because fewer properties are on market

Tri-State /
Sep.September 23, 2021 02:30 PM
The six bedroom Sagaponack house (Out East)

The six bedroom Sagaponack house (Out East)

Hedge funder Steven Baum is listing his 8,000-square-foot Sagaponack beachside mansion in a market that has seen less activity because of low supply.

The Five Mile Capital founder is asking $32 million for 10-year-old home on Gibson Lane, according to Dirt. It has six bedrooms, nine bathrooms and two half-baths.

Amenities inside include a home theater, wine cellar, game room, and a gym. The grounds include a pool, cabana, and an outdoor shower. The property totals about an acre, and is 500 feet from the beach.

While still strong, the East End housing market has slowed its feverish post-pandemic pace of buying over the last few months.

Jonathan Miller, head of appraisal firm Miller Samuel, told the Southampton Press in August attributed said that was a function of low supply rather than falling demand. He noted that median and average sales prices in the Hamptons were the “highest we’ve ever tracked,” according to the report.

Earlier this month, a 6,100-square-foot home on Further Lane in East Hampton sold above its $52.5 million asking price.

[Dirt] — Dennis Lynch


Related Articles

arrow_forward_ios
Community Development Corporation of Long Island CEO Gwen O'Shea (CDCLI, iStock)
Nassau County aims to salvage $6M rent relief program
Nassau County aims to salvage $6M rent relief program
Senator Chuck Schumer and 70 Prospect Park West (Google Maps, Getty)
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
Dick Cavett and the property in Montauk (Compass, Wikipedia)
Dick Cavett sells estate for $24M in priciest Montauk deal this year
Dick Cavett sells estate for $24M in priciest Montauk deal this year
Judge trashes 421a rent overcharge suit against Muss
Judge trashes 421a rent overcharge suit against Muss
Judge trashes 421a rent overcharge suit against Muss
Low interest rates and the capability for some to work from home is helping fuel the market for vacation homes, a new survey indicates. (iStock)
Pandemic continues to fuel demand for second, third homes
Pandemic continues to fuel demand for second, third homes
Widow of late General Electric CEO Jack Welch buys $23M UES mansion
Widow of late General Electric CEO Jack Welch buys $23M UES mansion
Widow of late General Electric CEO Jack Welch buys $23M UES mansion
State Sen. Jabari Brisport and a rendering of 840 Atlantic Avenue (Getty, IMC Architecture, iStock)
How a senator’s vampire politics hurt real estate — and NYC
How a senator’s vampire politics hurt real estate — and NYC
CoStar CEO Andy Florance and REBNY president James Whelan (Getty, iStock, REBNY)
Brokerage execs gush over REBNY, CoStar listing portal. Agents aren’t sold
Brokerage execs gush over REBNY, CoStar listing portal. Agents aren’t sold
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...