Former Entenmann North Fork Estate Hits Market for $20M

Another expensive land listing has hit the North Fork market.

More than 150 acres addressed at 6025 Sound Avenue in Riverhead is asking almost $20 million, according to Sotheby’s International Realty broker Yorgos Tsibiridis, who has the listing along with Sharon Stern.

The property is part of the former Martha Clara Vineyard and Big E Farm. Once owned by baked goods heir Robert Entenmann, a family group led by Mexican businessman José Antonio Rivero Larrea bought over 200 acres for $15 million in 2018.

The family, which rebranded the vineyard to RGNY, is planning to keep 50 acres that includes a number of structures, including the tasting room and wedding venue on the property, according to Tsibiridis.

The remaining 150 acres have vineyard plantings and agricultural infrastructure, along with equestrian facilities including barns and a professional riding track. The property also has a 10,000-square-foot residence, but Tsibiridis says the most appealing aspect is the 89 developable residential lots.

“To get this amount of land that’s all continuous is so extremely rare that I think it’s just such a unique opportunity for someone to come in and develop their own vision,’ Tsibiridis said.

The listing comes at a time in the North Fork where prices have been soaring and land sales have been flying.

The Real Deal reported in February that Apollo Global Management CEO Marc Rowan was the buyer behind 110 acres of vacant land in East Marion. The $23.5 million sale set a record as the priciest in North Fork’s history.

Billionaire developer Stefan Soloviev has bought up more than 1,000 acres of land in North Fork in recent years, including a vineyard on Peconic Bay in Cutchogue.

The spate of recent large-scale sales has heightened tensions between locals and wealthy buyers with ambitious development plans.

Soloviev, for example, has proposals in front of the Southold Town Planning Board to build 47 residential lots between Cutchogue and Peconic and another 13 beachfront homes spanning Mattituck and Cutchogue. Both proposals would preserve 354 acres of farmland across the roughly 520 acres the proposals cover.

“There’s an enormous tension between the local people and the very wealthy people who have been purchasing on the North Fork,” William Raveis’ Joan Bischoff van Heemskerck of William Raveis, who had the listing sold to Rowan, told TRD in February. “People are afraid that they’re going to lose what’s left on the North Fork, and they’re afraid of what wealthy people can do with their money.”

Tsibiridis also said he could also foresee a buyer using the land at 6025 Sound Avenue for more bespoke options like a hospitality development or private club.

Even beyond the development opportunities sprouting up along the North Fork, single-lot home sales have also seen prices skyrocket.

In January, a waterfront property in Southold that sold for $12.4 million set the record for priciest single-lot home sold on the North Fork, only three months after a bayfront Cutchogue home sold for $11.2 million.

In the third quarter of last year, the median home sales price broke $1 million for the first time ever in the North Fork, according to a report from appraisal firm Miller Samuel. In the first quarter of this year, the median home sale price was $999,999.