Former ad exec asks staggering $175M for Hamptons estate

Mansion next door went for $84M

Tri-State /
Jan.January 14, 2021 04:35 PM
700 Meadow Lane in Southampton and Marcia Riklis (Photos via Bespoke Real Estate; Getty)

700 Meadow Lane in Southampton and Marcia Riklis (Photos via Bespoke Real Estate; Getty)

In February, billionaire Ken Griffin purchased Calvin Klein’s seven-acre Southampton home for $84 million — the year’s most expensive deal in the Hamptons.

Now, the mansion next door has been put on the market for an eye-popping $175 million.

The home at 700 Meadow Lane, which belongs to former advertising executive Marcia Riklis, sits on eight acres of land and features 500 feet of ocean frontage, according to a listing with Bespoke. It has 11 bedrooms, 12 full bathrooms and a heated pool, and at 15,500 square feet, appears to be larger than its neighbor.

Still, critics question whether the $175 million price tag is realistic.

“The price is so out of the stratosphere that it’s damaging to the owner and the marketplace,” said a broker in the Hamptons who asked to remain anonymous. “It sends a false pretense of what is possible.”

Riklis, a philanthropist, did not respond to a request for comment. But listing agent Cody Vichinsky, who co-founded Bespoke with his brother Zach in 2014, said the home has a raft of features that can’t be found elsewhere.

“Like all things in a market that doesn’t necessarily use quantifiable metrics, a sense of value is really what someone is willing to pay based on the scarcity,” he said.

The Vichinsky brothers, who only list properties above $10 million, have marketed headline-grabbing prices before.

In 2018, they listed a 20,000-square-foot Jule Pond estate in Water Mill for $175 million. The property is still on the market, with the price dropped to $145 million.

That same year, the brothers brokered the sale of late shoe mogul Vince Camuto’s Water Mill estate, known as the Villa Maria, for $49 million — a sharp drop from the $72 million asking price, but still $49 million.

The former home of Calvin Klein (left) was purchased by Ken Griffin in February for $84M. Next to it is the mansion belonging to Marcia Riklis, now listed for $175M. (Source: Google Earth.)

The former home of Calvin Klein (left) was purchased by Ken Griffin in February for $84M. Next to it is the mansion belonging to Marcia Riklis, now listed for $175M. (Source: Google Earth.)

If Riklis gets close to her asking price, the deal would be roughly double what Calvin Klein fetched for his home, the biggest sale of 2020.

“In the eyes of people who are buying real estate at this level, Ken Griffin got a good deal,” Cody Vichinsky said of that sale.

The second-priciest sale last year was a 3.4-acre estate at 15 West Dune Lane that went for $67 million, a TRD analysis found.

Across the wider Hamptons luxury market, the average sales price in the Hamptons in the third quarter last year was $7.7 million, up from $5.2 million in the same period the year prior, according to data from Douglas Elliman.

If Riklis’ home doesn’t sell, there could be other options. In 2015, she listed the home as a summer rental for $2.5 million, a record ask at the time.

Riklis’ father, the late Meshulam Riklis, was an Israeli-raised businessman who was best known for marrying Pia Zadora and managing her career, according to the New York Post.





    Related Articles

    arrow_forward_ios
    A photo illustration of John D. Rockefeller and 181 Glenville Road in Greenwich, Connecticut (Getty, Sotheby's International Realty, Published by Scientific American Compiling Dep't, New York. 1907., Public domain, via Wikimedia Commons)
    Rockefeller descendants list 54-acre parcel from Greenwich estate
    Rockefeller descendants list 54-acre parcel from Greenwich estate
    55 Mercer Street (Zillow)
    Jersey City single-family home sets sales record
    Jersey City single-family home sets sales record
    160 Ox Pasture Road (Tim Davis Hamptons)
    Southampton’s Linden Estate trades for $70M in long-awaited sale
    Southampton’s Linden Estate trades for $70M in long-awaited sale
    Shahab Karmely and the Gardiner Estate at 127 Main Street (Getty, Out East)
    Inside Shahab Karmely’s historic East Hampton mansion
    Inside Shahab Karmely’s historic East Hampton mansion
    Upstate Shredding's Adam Weitsman and 637 North Broadway (Upstate Shredding, Julie & Co.)
    Scrap metal magnate drops $18M on Saratoga Springs estate
    Scrap metal magnate drops $18M on Saratoga Springs estate
    100 Further Lane (Sotheby's International Realty)
    Norman Jaffe-designed home headed for auction
    Norman Jaffe-designed home headed for auction
    (Photo Illustration by The Real Deal with Getty)
    Hamptons, North Fork home sales slow, but prices keep climbing
    Hamptons, North Fork home sales slow, but prices keep climbing
    Suzy Welch with 124 Eden Knoll (LinkedIn, Compass)
    Suzy Welch sells Hudson Valley estate for record price
    Suzy Welch sells Hudson Valley estate for record price
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...