Stefan Soloviev Floats Another North Fork Subdivision

Stefan Soloviev is taking another swing at reshaping the North Fork.

The billionaire landowner filed plans for a 148-acre conservation subdivision stretching across Mattituck and Cutchogue that would introduce a cluster of waterfront homes along the Long Island Sound, the Suffolk Times reported.

Submitted late last month by Soloviev’s Crossroads Atlantic LLC, the proposal — dubbed the Cole Harbor Conservation Subdivision — would concentrate development along the shoreline while keeping most of the acreage in agricultural use. The project calls for 13 residential lots on the Sound, each ranging from roughly 0.8 acres to just over three acres.

The rest of the site would remain largely untouched. Plans designate an 87-acre conservation parcel and a small beach access lot, while a street running from Oregon Road would cut through the preserved land to reach the waterfront homes.

The property is already heavily agricultural, with about 124 acres used for farming.

Cole Harbor is the latest in a pair of major subdivision filings tied to Soloviev’s growing North Fork holdings. Another proposal, known as the Colusa Conservation Subdivision, spans roughly 372 acres across Cutchogue and Peconic and would carve out 47 residential lots while preserving about 267 acres of farmland.

That project alone could generate hundreds of millions in value.

The filings arrive amid a surge of billionaire interest in the area. Considered the East End’s quieter cousin to the Hamptons, the North Fork has drawn more hedge fund executives and finance titans seeking large waterfront estates and farmland-adjacent retreats.

Apollo Global Management chief executive officer Marc Rowan closed on a 103-acre East Marion property along the Sound for $23.5 million, setting a record for a land sale in the area. Much of that parcel is protected by Peconic Land Trust easements and Rowan has not disclosed development plans.

Southold Town adopted conservation subdivision rules in 2006 to balance development with farmland preservation, allowing landowners to cluster housing on a limited portion of their property while keeping the majority as open space.

Soloviev has leaned into that framework as he expands his footprint. The Crossroads Atlantic founder — whose agricultural business spans hundreds of thousands of acres nationwide — has accumulated more than 1,100 acres on the North Fork, positioning himself as one of the region’s largest landholders.

— Holden Walter-Warner