Southampton estate with $175M ask is the priciest listing in the country

Some East End brokers feel the eye-popping price tag is unrealistic

Tri-State /
Aug.August 06, 2021 01:33 PM
Mylestone at Meadow Lane (Bespoke Real Estate, iStock)

Mylestone at Meadow Lane (Bespoke Real Estate, iStock)

A sprawling oceanfront estate in Southampton appears to be the priciest listing in the country, according to Realtor.com.

The $175 million ask on Marcia Riklis’ estate at 700 Meadow Lane in Southampton tops all other publicly listed residential properties nationwide, including a 432 Park Avenue penthouse that billionaire Saudi retail developer Fawaz Alhokair placed on the market in June for $170 million.

The eight-acre estate, dubbed Mylestone at Meadow Lane, listed in January with Bespoke Real Estate. It includes a main house totaling 15,521 square feet with 11 bedrooms and more than a dozen bathrooms.

Other features include a caretaker’s cottage and a gym. There is also a 70-foot heated pool, basketball and tennis courts and a detached five-car garage. That’s not to mention the 500 feet of ocean frontage with a private boardwalk and a dock on Shinnecock Bay.

Still, some East End brokers call the asking price unrealistic.

“The price is so out of the stratosphere that it’s damaging to the owner and the marketplace,” one anonymous broker told The Real Deal. “It sends a false pretense of what is possible.”

It’s not the first time Bespoke has marketed a Hamptons property with a would-be record price tag. In 2017, the brokerage listed a 20,000 sq ft mansion in Water Mill, set on 42 acres, also asking $175 million. After slashing its asking price to $145 million, that property went under contract in March. The actual sale price has yet to hit public records.

[Realtor.com] — Dennis Lynch


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