Sagaponack mansion lists for $32M in East End’s supply-constrained market

Hamptons buying frenzy has slowed because fewer properties are on market

Tri-State /
Sep.September 23, 2021 01:46 PM
The six bedroom Sagaponack house (Out East)

The six bedroom Sagaponack house (Out East)

Hedge funder Steven Baum is listing his 8,000-square-foot Sagaponack beachside mansion in a market that has seen less activity because of low supply.

The Five Mile Capital founder is asking $32 million for 10-year-old home on Gibson Lane, according to Dirt. It has six bedrooms, nine bathrooms and two half-baths.

Amenities inside include a home theater, wine cellar, game room, and a gym. The grounds include a pool, cabana, and an outdoor shower. The property totals about an acre, and is 500 feet from the beach.

While still strong, the East End housing market has slowed its feverish post-pandemic pace of buying over the last few months.

Jonathan Miller, head of appraisal firm Miller Samuel, told the Southampton Press in August attributed said that was a function of low supply rather than falling demand. He noted that median and average sales prices in the Hamptons were the “highest we’ve ever tracked,” according to the report.

Earlier this month, a 6,100-square-foot home on Further Lane in East Hampton sold above its $52.5 million asking price.

[Dirt] — Dennis Lynch


Related Articles

arrow_forward_ios
Westchester estate breaks local sale-price record: $11.3M
Westchester estate breaks local sale-price record: $11.3M
Westchester estate breaks local sale-price record: $11.3M
East Hampton pursues affordable housing dev for former Baptist church
East Hampton pursues affordable housing dev for former Baptist church
East Hampton pursues affordable housing dev for former Baptist church
840 Meadow Lane (Photos via Tim Davis)
Southampton home on Meadow Lane fetches $70M
Southampton home on Meadow Lane fetches $70M
(L-R) Four Seasons Sotheby’s International Realty's Gary DiMauro, Redfin's New York market manager Matthew Frary; Four Seasons Sotheby’s International Realty President Laurie Mecier-Brochu and CEO Alan DiStasio are expanding their Hudson Valley footprint (Redfin, Four Seasons Sotheby’s International Realty)
Battle for Hudson Valley heats up as Sotheby’s, Redfin seek to cash in
Battle for Hudson Valley heats up as Sotheby’s, Redfin seek to cash in
Southampton moves to curb emissions after declaring climate emergency
Southampton moves to curb emissions after declaring climate emergency
Southampton moves to curb emissions after declaring climate emergency
Click, bid, buy: Suffolk County breaks precedent with virtual auction
Click, bid, buy: Suffolk County breaks precedent with virtual auction
Click, bid, buy: Suffolk County breaks precedent with virtual auction
Peloton CEO John Foley lists East Hampton home for $4.5M
Peloton CEO John Foley lists East Hampton home for $4.5M
Peloton CEO John Foley lists East Hampton home for $4.5M
(iStock)
Hamptons towns take sale-price rankings hit
Hamptons towns take sale-price rankings hit
arrow_forward_ios

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

Loading...