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

The family of James Evans, the former chairman of the Union Pacific railroad empire, has put their waterfront estate in East Hampton on the market for $60 million.

Evans, a lawyer who died at 94 in 2015, bought the 6.7-acre property at 32 Windmill Lane in 1986 and built a home on it, his daughter, Carol Jepperson, told the Wall Street Journal. While the family often used the property as a gathering place when Evans was alive, since his passing, Jepperson said they have visited less often, prompting the decision to sell.

The 5,500-square-foot home, which court filings show is currently owned by a trust in Evans’ name, has five bedrooms, six bathrooms and a large living room with cathedral ceilings. Outside is a 50-foot heated pool, 300 feet of private beach and a separate guest cottage with three bedrooms, two-and-a-half bathrooms and its own pool.

Behind the Hedges noted that the Evans estate is two separate parcels, with 5.4 acres being on the water and the remaining 1.3 acres inland. Frank Newbold, who recently appeared on The Real Deal‘s ranking of top Hamptons luxury brokers, and Valerie Smith of Sotheby’s International Realty have the listing.

Newbold told the Journal that current zoning allows for a new owner to build a 12,500-square-foot home on the larger parcel and a 6,000-square-foot house on the inland parcel. The outlet noted the potential to pursue a teardown and the property’s location near East Hampton’s exclusive Further Lane makes it one of the pricier homes to come on the market in recent years. [WSJ] — Aidan Gardiner