Developer ditches plan for South Fork wind farms, Southampton estate sells for half its initial ask & more Hamptons real estate news

Jul.July 19, 2019 11:30 AM

Clockwise: A two-home Water Mill compound’s ask is cut down to $17.5M, a developer scuttles its plan for wind farms off the South Fork, a modern East Hampton home with a “wellness center” lists for $8.5M and a developer-turned-speedboat racer’s Sag Harbor estate hits the market at nearly $17M.

Developer nixes bid to build wind farms off the South Fork
New York Gov. Andrew Cuomo may have big plans for offshore wind power as part of the Empire State’s climate change action plan, but Bill White, managing director of the developer East Wind LLC, said his company will withdraw its plan to built a wind farm 20 miles off the South Fork, Newsday reported. The developer, a subsidiary of Germany-based EnBW Energie Baden-Württemberg AG, instead plans to build farther west and urge federal authorities to bar turbine construction from the East End’s waters. East Wind bowed out of its bid for offshore wind power in the Hamptons due to concerns about how wind farms might impact the local fishing industry. The federal government has been finalizing proposed lease sites for such farms despite local and state opposition them. East Wind officials have their eye on six sites off Long Island where they hope to build. One is directly off East Hampton and Southampton. The others stretched from Patchogue to Long Beach. Meanwhile, a plan touted by Cuomo on Thursday could bring offshore wind turbines to an area 30 nautical miles southeast of Montauk, although it remains unclear where a cable that connects to the wind farm will come ashore. [Newsday]

Southampton estate sells for half its 2016 listing price
Gregory Wright has sold 237 Gin Lane in Southampton, a two-acre estate that hit the market in 2016 seeking $21 million, for $10.5 million, 27east reported. Built in 2002, the 9,000-square-foot residence has 11 bedrooms, 11 bathrooms, two half-bathrooms and a staff wing, according to the outlet. Other amenities include a sunroom, a paneled library with a fireplace and an oversized kitchen and family room. Outside is a covered dining porch, patio and pool, as well as a tennis court and a “secret garden” with a fountain, 27east reported. The property took several price chops after listing three years ago, relisting at $14.95 million in early 2018 before settling at $13.5 million late last year. The new owner is a limited liability company that takes its name from the property’s address. Pat Petrillo of Sotheby’s International Realty had the listing. [27east] — Brian Baxter

Water Mill compound’s price cut down to $17.5M
A three-acre Water Mill property that holds two homes has taken a $2 million price chop, bringing its potential purchase price down to $17.5 million, Behind the Hedges reported. The compound at 475 Flying Point Road had hit the market in November 2018 with a $19.5 million ask. The 9,600-square-foot main house has four bedrooms, a living room opening onto outdoor decks, a chef’s kitchen, two staircases, a home gym, a wine cellar and a sauna. The 5,500-square-foot guest house also has four bedrooms, an open floor plan, a double-height living room and a finished lower level. Both houses have radiant, solar and geothermal heating and were designed by the New York-based architect Alexander Antonelli and built by Bridgehampton-based Fountainhead Construction. The three-acre property has a heated gunite pool and a tennis court. Harald and Bruce Grant of Sotheby’s International Realty have the listing. [Behind the Hedges]

Racer and developer’s Sag Harbor home lists at nearly $17M
A former powerboat racer named Stuart Hayim has put his waterfront home at 44 Forest Road in Sag Harbor on the market for $16.95 million, the New York Post reported. Hayim, who also ran luxury car dealership and has been a developer in the Great Neck area in Nassau County’s North Shore, first bought the one-acre property in 2013, demolishing the structure that was there at the time. He then built a 5,000-square-foot home with six bedrooms, six-and-a-half bathrooms, a chef’s kitchen, a great room with a fireplace, an infinity-edge pool and a finished lower level. The home was designed by Long Island-based Mojo-Stumer Luxury Architects and has 135 feet of frontage and a deep-water dock on Sag Harbor Bay. Mala Sander of the Corcoran Group has the listing. [NYP]

Owners eye replacing Westhampton Beach building with bigger version
Stephen Matri and Lance Farlow, the owners of 115 Main Street in the Village of Westhampton Beach, have applied for permission to demolish the structure and replace it with a two-story building, 27east reported. Matri and Farlow, operating under the limited liability company SKL Realty Holdings, are working with a partner whose name hasn’t been publicized. In the new building’s ground floor, SKL hopes to create two retail spaces, a restaurant and a bar. Atop that the property owners want to place an apartment and an office unit. The next building on the site would be 3,400 square feet, larger than the current 2,974-square-foot structure. SKK needs to get a variance in order to install a new septic system. The retail store Shock, which has operated on the site for years, will have a place in the next building. In the meantime, Shock may temporarily move across the street to a unit at 128 Main Street, which Matri and Farlow’s company recently bought from Simon Jorna, the onetime owner of Beach Bakery Grand Cafe, the latter of which was recently sold after listing last year for $5.75 million. Matri and Farlow hope to begin building at 115 Main Street in September and finish by June 2020. [27east]

Modern East Hampton home with “wellness center” lists at $9M
An East Hampton home that owner James McLoughlin built to showcase the skills of his company, Bridgehampton-based McLoughlin Construction Corporation, has been put on the market for $8,495 million, Behind the Hedges reported. Bridgehampton-based architect Blaze Makoid designed the 12,034-square-foot home at 98 Bull Path, and builders finished it in 2017. The home has six bedrooms, seven-and-a-half bedrooms, large windows, a double-height foyer, a “wall of wine,” a game room, a billiards table, a bar and a “wellness center” with a steam shower and sauna. The grounds, which are nearly two acres, hold a 66-foot-long infinity edge pool, a covered outdoor area with its own fireplace, a pizza oven and a massive grill. Ann Ciardullo, Rylan Jacka and Keith Green of Sotheby’s International Realty have the listing. The property last sold in 1999 for $195,000, according to Zillow. [Behind the Hedges]

Related Articles

The bombshell probe also found that minorities had to meet more stringent financial qualifications than white buyers. (Credit: iStock)

LI agents routinely discriminate against minority buyers, undercover probe finds

Tom Brokaw, wife Meredith Auld sell their Westchester estate after price chop

Tom Brokaw, wife Meredith Auld sell their Westchester estate after price chop

Clockwise from left: Kyrie Irving (left) and Kevin Durant, Gosman’s Dock in Montauk, an illustration of New York's toniest golf clubs (Credit: Andrej Isakovic/AFP/Getty Images, illustration by Christiane Engel)

Squarespace CEO pays $42M for Montauk development sites, power brokers tee up deals & more Hamptons real estate news

Concept plans for 'The Halo' at 289-301 Washington Street and Meridian Capital Investment's David Schechtman - provided by Meridian Capital Investments/ Minno Wasko

Developer seeks $40M for Opportunity Zone site in downtown Newark

Roseland-based Munrick Property Group pens 1k apartment unit disposition - provided by CBRE

Who needs New York? Garden State multifamily portfolio trades for $146M

Clockwise from top left: Former rail tycoon James Evans' waterfront estate in East Hampton lists for $60M, Water Mill waterfront home sees price dip below $18M, a modern Sagaponack home hits the market at $9.5M and East Hampton's "White House" gets a $3M price cut.

Former RKF chief appears in Southampton court, Water Mill waterfront home’s price drops below $18M & more Hamptons real estate news

An aerial view of the Hamptons (Credit: Curbed NY)

The Hamptons just had its worst second quarter for sales in 8 years

32 Windmill Lane in East Hampton

All aboard! Former rail tycoon’s Hamptons estate pulls in $60M ask