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Hamptons Newsletter
Tri-State

Hamptons compound sells for $45M in area’s biggest sale of the year

The waterfront estate of the late James. H. Evan’s hit the market last summer asking $60M

26 Windmill Lane (Credit: Douglas Elliman)
26 Windmill Lane (Credit: Douglas Elliman)

The Hamptons has seen its largest deal of the year close, courtesy of an unidentified buyer’s $45 million purchase of the late James H. Evans’ massive home.

The oceanfront property just off Further Lane hit the market last summer with a $60 million price tag, according to the Wall Street Journal. Although the Hamptons sales market has been in a slump, hitting record lows in the final quarter of 2019, its rental market has been filled with New Yorkers looking for homes to quarantine in since the pandemic began.

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The home of Evans, the former chairman of Union Pacific, went into contract before the coronavirus pandemic picked up speed in the U.S. The area is one of the most exclusive in the Hamptons. Nearby, hedge fund executive Barry Rosenstein set a record for the Hamptons in 2014 when he bought an estate for $137 million.

The Evans property spans about 6.7 acres, with a five-bedroom, 5,500-square-foot main house and a three-bedroom guest house. The property also has a heated swimming pool. Current zoning allows for a roughly 12,500-square-foot home on the site, so the new owner could potentially tear down the property. [WSJ] — Eddie Small

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CoronavirusHamptonsLuxury Real Estate