The sale of a Southampton home designed and owned by the late fashion designer and Broadway performer Luba Marks was able to sew up a deal, but for far less than its asking price.
The Real Deal reported in March that 1210 Meadow Lane was in contract after asking $37 million. It is now sold, but fetched just $28.8 million. Traded first reported the sale.
Built in 1972, the 3,727-square-foot, single-family house is situated on 3.32 acres of oceanfront. It features three bedrooms, four and a half bathrooms, a tennis court, a pool and more than 200 feet of white-sand beach.
Douglas Elliman’s Michaela Keszler and Madeline Hult Elghanayan had the listing.
Even at a 22 percent discount, the final figure puts the property among the area’s most expensive recent sales. In 2020, the most expensive homes sold in the Hamptons were largely in the $30 million to $40 million range.
But as homes fly off the market and demand remains high, prices have soared this year. While listing inventory fell 34 percent in the first quarter, the median sale price increased 31 percent year-over-year.