The sale price record fell in the North Fork’s Mattituck last week. It wasn’t particularly close, either.
Florida-based buyers purchased the home at 1140 Park Avenue in the Long Island hamlet for $10 million in an off-market deal, Behind the Hedges reported. The sale of the waterfront property breaks down to $2,222 per square foot.
The sellers of the three-acre property — who are relocating to a waterfront home in Quogue — landed their asking price for the 4,500-square-foot home, which overlooks Peconic Bay. They purchased the place seven years earlier for $4.5 million.
The former summer cottage includes five bedrooms and four-and-a-half bathrooms. The home has largely been restored to its original state, hosting features such as weight-and-chain windows, oak paneling and a wraparound porch.
The home sits 18 feet above sea level and has 170 feet of protected waterfront, thanks to a new double bulkhead. The grounds also include a gunite pool, a full-floor game room and a three-car garage.
Douglas Elliman’s Christine Malloy represented the seller, while the agency’s Alexis Meadows procured the buyer.
While the sale price record in the North Fork is above $12 million, there had never been a $5 million sale recorded in Mattituck, according to MLS data, meaning the Park Avenue sale more than doubled the previous record. The sale also marked a high for the North Fork, as the previous apex this year was a $7.2 million sale just weeks ago in Southold.
Sales on the North Fork have been flat recently, but Meadows told the publication that the waterfront market in the area stands apart due to location and limited inventory.
In the second quarter, the median sale price in the North Fork was $963,000, down 3.2 percent from the first quarter and 1.7 percent year-over-year, according to Miller Samuel. There were 115 closed sales from April to June.
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