When there’s water, there’s a way.
A Hamptons home asking $37 million, or $18.5 million for each body of water it faces, has gone into contract.
The estate, at 38 Association Road in Wainscott, is two oceanfront acres with views of both the Atlantic Ocean and Georgica Pond. The home is 6,500 square feet and has five bedrooms, five bathrooms and one half bathroom.
Three of the bedrooms are located on the first floor. Two of the bedrooms have French doors that open out onto a covered porch, while a third bedroom features a private entrance with access to a pool. The first floor has staff quarters with a separate entry and full bathroom, a living room, a mud room with wood paneling and a laundry room with marble countertops.
Upstairs are cathedral ceilings, antique oak flooring and mahogany-paneled walls. The primary bedroom has two walk-in closets and water closets, and views of the ocean and pond. Its bathroom features a shower with dual shower heads and marble walls and floors, two marble sinks, a cedar sauna and a freestanding clawfoot tub.
It was marketed by Bespoke.
Wainscott has just seven oceanfront properties. Bespoke has sold four of them since 2020 and 18 oceanfront homes overall during that period.
Another contract signing, 10 miles east, shows the discount for not being on the water: The four-bedroom, three-and-a-half-bathroom home at 59 Gilberts Path was asking a mere $16.75 million. The property, represented by Bespoke in an off-market deal, stands to be the highest non-waterfront trade ever in Amagansett.
It does have a lot going for it, including views of the ocean, albeit interrupted by a few other homes. It has a path to the beach and a swimming pool.
In a tight Hamptons market, homes that are at least near the ocean have seen their values soar.
”We’re seeing a whole shift in valuation for close proximity to the beach than we’ve seen before,” Bespoke founder and CEO Cody Vichinsky said.