Sag Harbor waves in waterfront restrictions

Village approves rules limiting new buildings to two stories

Tri-State /
Jan.January 28, 2022 11:38 AM

Mayor James Larocca of Sag Harbor, NY (Village of Sag Harbor NY, iStock)

If building homes on the Sag Harbor waterfront is like printing money, the town just stopped the presses.

The village board voted earlier this month to approve rules for a waterfront overlay district, according to Dan’s Papers. The rules would limit most new buildings on the waterfront to two stories. A third story would be permitted for buildings with a public benefit and coastal access.

It was designed to create “standards that guide the relationship between building facades and the public realm and protect against over-development on the waterfront,” according to the text of the legislation.

The rules bring an end to a years-long fight over development constraints. In October 2020, the Sag Harbor Village Board of Trustees approved a six-month moratorium on major developments along a large portion of its central waterfront. While the ban was in effect, a team of consultants was set to create a set of proposals for a code to inform projects.

One of the consultants hired by the village told the board that some historic buildings couldn’t be replicated under the recently replaced zoning rules.

“Everything you see in this historic Sag Harbor view is essentially illegal or nonconforming” under the zoning, Chris Hawley said.

The moratorium was ultimately extended to Feb. 1, 2022. According to Dan’s Papers, the recent legislation resulted in the lifting of the moratorium.

Proximity to the water is often a distinction that can make or break differences of millions of dollars in the Sag Harbor housing market.

In the fall, the Sag Harbor waterfront home of sculpture artist Robert Hooke hit the market for $9.5 million. The compound includes a 2,000-square-foot home with three bedrooms and three bathrooms. There is also a tennis court, bath house and pond.

Meanwhile, “Million Dollar Listing” star Tyler Whitman recently paid $2.7 million for an inland Sag Harbor home. While it comes with a pool instead of a tennis court and bath house, the home sits just shy of 2,100 square feet, but a markedly different price point from Hooke’s.

In East Hampton, Peloton CEO John Foley illustrated the pricey play that’s necessary to move from woods to waterfront.

The stationary-bike executive in November listed his roughly 6,500-square-foot East Hampton home for $4.5 million. The New York Post reported one month later that Foley was the buyer of an estate on the area’s star-studded Further Lane. The 6,100-square-foot home on four acres had gone into contract in September and closed at $55 million.

The waterfront upgrade cost Foley $2.5 million more than its asking price and a dozen times more than he was asking for his inland property.

[Dan’s Papers] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Beechwood Organization's Steven Dubb and a previous rendering of Country Pointe Elwood (Beechwood Homes)
    Developer nixes age restriction on 385 homes planned at elusive Elwood site
    Developer nixes age restriction on 385 homes planned at elusive Elwood site
    A photo illustration of the Ram's Head Inn at 107 South Ram Island Drive in Shelter Island Heights (LoopNet, iStock)
    On the dock-et: Shelter Island inn owner sues town
    On the dock-et: Shelter Island inn owner sues town
    Rubenstein Partners' David Rubenstein and Warren Corporate Center (Rubenstein Partners, iStock)
    Tri-state deal roundup: King Kullen loses ground, former Modell’s replacements
    Tri-state deal roundup: King Kullen loses ground, former Modell’s replacements
    NRIA Fund president Rey Grabato (LinkedIn, iStock)
    Bankrupt NJ developer accused of $630M fraud
    Bankrupt NJ developer accused of $630M fraud
    Julia Koch and 840 Meadow Lane in Southampton (Getty Images, Tim Davis/Corcoran)
    Julia Koch revealed as buyer of dated $70M Southampton estate
    Julia Koch revealed as buyer of dated $70M Southampton estate
    Friends of Bay Street Chairman Adam Potter and rendering of new affordable housing and commercial space (LinkedIn, BHC Architects, Illustration by Kevin Cifuentes for The Real Deal)
    Affordable housing project proposed for Sag Harbor
    Affordable housing project proposed for Sag Harbor
    Sophocles Zoullas and 275 Ox Pasture Road in Southampton (Getty Images, Harald Grant Real Estate, iStock)
    ‘Tenacre’ estate is only 3 acres, but lists for $25M
    ‘Tenacre’ estate is only 3 acres, but lists for $25M
    Jersey City mayor Steven Fulop, Kushner Companies' Nicole Kushner Meyer and render of One Journal Square (Getty Images, Kushner Companies)
    “Charlie, we did it”: Kushner breaks ground on long-delayed towers
    “Charlie, we did it”: Kushner breaks ground on long-delayed towers
    arrow_forward_ios

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

    Loading...