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
    (Getty)
    Homeowners declare final victory in fight over Amagansett “Truck Beach”
    Homeowners declare final victory in fight over Amagansett “Truck Beach”
    (Compass)
    Waterfront home in Water Mill asks $19.5M
    Waterfront home in Water Mill asks $19.5M
    Ron Perelman with the Lily Pond Lane estate (Getty, Sotheby's)
    Ron Perelman lists his other East Hampton mansion for $115M
    Ron Perelman lists his other East Hampton mansion for $115M
    The Springs Tavern (Compass)
    Two East Hampton restaurants are up for sale
    Two East Hampton restaurants are up for sale
    (Getty)
    Hamptons restaurant owner offers discount housing to attract staff
    Hamptons restaurant owner offers discount housing to attract staff
    (Getty Images)
    Hurricane Ida damage could disrupt thousands of mortgage deals in NY, NJ
    Hurricane Ida damage could disrupt thousands of mortgage deals in NY, NJ
    A rendering of Little Beach Harvest
    Shinnecock Nation ‘hookahs’ up with Phoenix firm on cannabis biz
    Shinnecock Nation ‘hookahs’ up with Phoenix firm on cannabis biz
    Maria Kimberly and 68 Ridge Road (Facebook, Zillow)
    No pictures, please! Supermodel Maria Kimberly’s Southampton home to be sold at auction
    No pictures, please! Supermodel Maria Kimberly’s Southampton home to be sold at auction
    arrow_forward_ios

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

    Loading...