Two oceanfront Hamptons listings featuring a slew of common features are lined up to score very different prices.
In Southampton, a 4.5-acre home at 1580 Meadow Lane sold in April for $16.4 million, according to Behind the Hedges. The property has 240 feet of direct oceanfront and a private walkway that leads to the beach.
The 5,300-square-foot home includes a heated pool and spa. The master bedroom is on the second floor, while the first floor includes four guest bedrooms and a guest suite with a kitchenette.
Selling the home proved to be difficult. It had been on the market for years, asking as much as $27 million in 2018. The last ask was $20 million. Erica Grossman of Douglas Elliman was the listing agent.
The owner of an oceanfront home about 20 miles east is hoping to avoid a similar experience. The property, at 2056 Montauk Highway in Amagansett, is smaller at 2.4 acres, but the home itself is significantly larger at 8,200 square feet. The 13-year-old residence was just listed for $25 million, according to Behind the Hedges.
The six-bedroom, seven-bathroom home includes a powder room, laundry room and direct access to an oceanside deck on the first floor. On the second floor, large windows provide ocean views, while the primary bedroom has two private outdoor decks.
Other features include a gym, a heated gunite pool and the all-important path to the beach. Kyle Rosko, Marcy Braun and Alexandra McDevitt of Douglas Elliman have the listing.
Buyers in the Hamptons are dealing with a tight market, which could help explain why one listing is commanding top dollar and another finally sold after years on the market. Hamptons inventory was down 42 percent year-over-year in the first quarter and 16 percent from the previous quarter, according to a Douglas Elliman report by Miller Samuel.
One out of every four homes sold in the Hamptons last quarter involved a bidding war. The market share of sales of $5 million or above was the third highest on record.
[Behind the Hedges] — Holden Walter-Warner