East Hampton estate owner asks $25M — and gets it

Hip-hop pioneers Eric B. and Rakim would appreciate the latest luxury sale in the Hamptons, where the buyer “paid in full.”

The anonymous purchaser handed over $25 million, the asking price, for the Georgica estate at 19 Cottage Avenue in East Hampton, Behind the Hedges reported. The deal for the 9,000-square-foot home breaks down to $2,778 per square foot.

The new-build home was designed by Chris Mitchell and Pilar Guzmán, a couple who published a book last year on interior designing.

The home, on one acre, has three stories, seven bedrooms and eight and a half bathrooms. Design aesthetics include 10-foot ceilings and five fireplaces, a nod to the designers’ passion for warm interiors.

Tech-forward features include an integrated sound system throughout the house, specialized lighting technology and a modern security system.

Outside the home is a 50-foot heated pool, pool house and adjacent carriage house. A slightly larger body of water, the Atlantic Ocean, is just a few blocks away (for now).

Sotheby’s International Realty’s Frank Newbold and Beate Moore shared the listing. The Corcoran Group’s Randi Ball procured the buyer.

Read more

Tri-State

Listings up in Hamptons, down on North Fork

Tri-State

Serious buyers only: The 10 priciest new Hamptons listings

Tri-State

Inside the arrival of The Agency’s Hamptons franchise

Mitchell and Guzmán, a former Conde Nast power couple, also designed 25 Quimby Lane in Bridgehampton. The historic restoration was listed for $28.5 million and sold two years ago for $25 million. The couple had purchased the place in 2018 for $7.1 million.

The Hamptons market is set up for a livelier autumn than the North Fork, its East End counterpart, according to Miller Samuel’s latest residential snapshot for Douglas Elliman. New listings in the Hamptons rose a modest 4 percent from August to September, while newly signed contracts increased 1.4 percent over the same period.

— Holden Walter-Warner