The Real Deal Miami

$81.5M property hits market in Southampton

August 31, 2010 05:30PM

Developer Bob Gianos of East End Properties and the historic Southampton site asking $81.5 million

The Olde Towne Association unveiled its completed 50-acre historic site today, with seven building parcels in Southampton Village asking $81.5 million. The individual lots, each on roughly four acres, are available from $10.5 to $13.5 million, including some with second-floor pond and ocean views. “The developer crafted a visionary plan which is among the most rarified settings in the Hamptons,” said listing broker Andrew Saunders of Saunders & Associate. The developer — only the seventh titled owner in 370 years — is Bob Gianos, founder and president of East End Properties, who is working together with land planner Hart Howerton. The site is historically renowned as the location of the first English settlement in New York. In his quest to preserve the site’s history, Gianos chose to reduce the number of buildable parcels to 10 from 16 and to dedicate 35 percent of the property to open landscaped spaces, rather than the required 0 percent, juxtaposing open spaces with nature preserves. A separate set of roads enter from the rear of each parcel for construction so as not to disturb residents. TRD