Hamptons Estate Listing Price Cuts Price By 23%

A Southampton estate may have cut its listing price by almost 25 percent, but it isn’t quite clearance section material.

The estate at 700 Meadow Lane is being marketed at $135 million, Behind the Hedges reported. The 23 percent price reduction comes two and a half years after former advertising executive Marcia Riklis listed the home.

While the price slash is sizable, it doesn’t change one element of the listing: it remains the most expensive property on the Hamptons market.

The eight-acre property has 500 feet of ocean frontage and a main house spanning 15,000 square feet. The main home has 11 bedrooms, 12 full bathrooms and a heated pool.

Other features afforded to an owner include a private boardwalk, unobstructed views of the Atlantic Ocean and Shinnecock Bay and an attached caretaker’s cottage.

Bespoke Real Estate said in an updated listing the home is “priced to sell.”

A neighbor could beg to differ. Before the home at 700 Meadow Lane even hit the market, the adjacent property sold for $84 million in the Hamptons’ most expensive residential deal of 2020. That seven-acre estate — sold by designer Calvin Klein and purchased by billionaire Ken Griffin — stretches a mere acre shorter than the counterpart offered by Riklis.

For the highest-end home in the Hamptons, aspirational pricing is more of a feature than a bug.

Brenda Earl, portfolio manager and former partner at Zweig-Dimenna, sold Henry Ford II’s former estate at 90 Jule Pond Drive in Southampton for $105 million in 2021. When Earl listed the 42-acre estate four years earlier, it sported the familiar $175 million price tag, only to drop to $145 million before it was purchased for another $40 million less.

Bespoke also held the listing on that property, which was purchased by an offshore company based in the Cayman Islands.

— Holden Walter-Warner