Water Mill estate with modern home hits market for $43M

The owner of a five-year-old Water Mill estate is looking to cash in to the tune of $43 million.

The undisclosed seller, who bought the land at 34 Cobb Isle Road in the Southampton hamlet in 2014 and finished the 9,700-square-foot home three years later, has listed the property, Mansion Global reported.

The estate spans two-and-a-half acres.

In 2018, the owner bought an adjacent, 1989 house for $6.7 million and renovated it as guest quarters in 2020. It spans 2,700 square feet with three bedrooms and three bathrooms.

The 9,700-square-foot main house takes on the feel of a sculpture, designed with stone and glass, as well as recycled materials throughout. The modern home offers views of Mecox Bay and the Atlantic Ocean. Architect Roger Ferris, known for his celebrity clientele, designed it.

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It has five bedrooms and nine bathrooms over four levels. There’s a rooftop terrace with an outdoor kitchen and gardens, a four-car garage, a pool cabana and two private docks.

Enzo Morabito (Douglas Elliman)

Douglas Elliman’s Enzo Morabito holds the listing, which combines the square footage and number of rooms of the two houses.

Water Mill is one of the more exclusive enclaves in the Hamptons. A Mecox Road home under construction was listed in September for $27.5 million despite lacking direct waterfront access.

Home prices are rising in the Hamptons even as sales slow, as low inventory continues to fuel competition on the East End. The luxury segment, defined in the Hamptons as $5 million or higher, accounted for 13 percent of homes sold in the third quarter, according to a market report for Douglas Elliman by appraisal firm Miller Samuel.

— Holden Walter-Warner