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Best Deals in the Hamptons

By Ruth Thomas

AAA Investment on Gin Lane – $19,250,000
The Goods – A vacant lot of this magnitude on Gin Lane rarely hits the public market, and when it does, it creates a stir in the Hamptons’ real estate community. Formerly belonging to the Wooldon Manor Estate, with past owners such as the Woolworth family and Edmund Lynch from Merrill Lynch fame, the 2 acre property boasts ocean views to the south, sunset views over Lake Agawam to the west, and deeded ocean access. Flat and cleared, the lot is perfect for a 10,000+ sq.ft. Estate with pool, pool house, and tennis. Own a piece of history in Southampton Village’s Estate Section.
Why it’s a good deal – “It is extremely rare to find a piece of land that passes every Hamptons’ real estate test but this property does – Estate Section, South of the Highway, deeded ocean access, fully cleared, oversized, room for tennis, with ocean and pond views!” Listing agent Enzo Morabito of Douglas Elliman Real Estate says, “This is a phenomenal investment to sit in anyone’s portfolio.”

Fabulous Value in Montauk/Hither Woods $1,625,000
The Goods – Recently reconstructed and redesigned, this gracious 4 bedroom, 3.5 bath traditional home on a fully fenced near acre in Montauk’s Hither Woods, is just an 8-minute stroll to the beach. First floor redesigned in an open floor plan, features new hardwood floors, new kitchen, bright and sunny dining area/living room with fireplace, and two “bonus rooms.” Sliding doors off kitchen open to backyard deck, overlooking inground pool. Renovated lower level features tile floors, fully finished living areas, and a fourth bedroom with a private bath. Detached two-car garage, circular drive and landscaping for privacy complete this picture perfect property!

Why it’s a good deal – Listing agents Lois and Peter Moore of The Corcoran Group say, “With four bedrooms, a pool on a near acre, a detached garage, and nearly $250,000 spent on updates and improvements in the last year, the house has been transformed into a virtually perfect beach house. And it’s just an 8-minute walk to the most pristine ocean beach on the East End!”

Turnkey on 2.5 Acres in East Hampton – $1,299,000
The Goods – This ground up renovation lies in the northwest woods area of East Hampton. What was once a contemporary/post-modern has been beautifully transformed into a distinct modern home featuring a new gourmet kitchen with Caesarstone countertops with top of the line stainless steel appliances and beautifully renovated spa-like bathrooms. The 2.5 acre property features a brand new heated gunite pool, extra large deck and bluestone patio surrounded by mature plantings insuring privacy. Featuring 3 bedrooms and 2.5 baths with approximately 2,100 sq.ft. of living space including an open floor plan with double-sided fireplace and first floor master suite. The location provides easy access to both Sag Harbor and East Hampton.

Why it’s a good deal – “This home represents a fantastic value,” say listing agents Brian Buckhout and Tyler Mattson of Compass. “Substantial parcels of land are at a premium in the Hamptons and the availability of a turnkey, fully renovated home on approximately 2.5 acres of land at this price point is a rare commodity. The location is great as well offering quick and easy access to both East Hampton and Sag Harbor.”

Waterfront Villa on 2.7 Incredible Acres – $10,500,000
The Goods – Exquisite waterfront villa off Mecox Bay situated on approximately 2.7 park-like acres. This elegant Tuscan-style villa sits among the most beautiful gardens offering multiple indoor and outdoor entertaining areas. With 640 feet of water frontage on Burnett Creek the views are breathtaking from every vantage point. The circa 1920s five bedroom home offers a chef’s kitchen, formal living room with fireplace, spacious screened-in patio, intimate sunroom, oak paneled library, and elegant formal dining room leading to a covered pergola outdoor area. An over-sized heated gunite pool, pool house, guest house, and detached 2-car garage are accessed through enchanting gardens, walkways and gates.

Why it’s a good deal – Listing agent Beate Moore of Sotheby’s International Realty, Inc. says, “It’s the “best deal” because it has 2.7 park-like acres with incredible gardens South of the Highway on the water with a beautiful house, guest house, and pool house. It is an unparalleled waterfront estate in mint condition in one of the most desirable locations.”

Great Investment Opportunity – $3,995,000
The Goods – Winter tenant in place until 2017. Privately sited on 7.5 acres in Water Mill, this impressive, sun-filled 5,600 sq.ft. home is fully loaded. Viking kitchen with granite counters, eat-in area, and butler’s pantry. Two adjacent rooms make a nice family room. Formal dining room and two additional rooms create a great flow. Master bedroom with vaulted ceiling, private balcony, large sitting area with fireplace and master bath with heated floors, Jacuzzi, and steam shower. Four additional en suite bedrooms complete the second story. A spacious walk-up attic for additional living or storage space. Oversized heated pool, room for tennis, heated two-car garage, and basement ready for finishing.

Why it’s a good deal – Listing agents Raphael Avigdor and James Peyton of Douglas Elliman Real Estate say, “This, in our opinion is an investment that can yield a cap rate between 4%-6% depending on whether you wish to use it for summer or partial summer enjoyment. The Ross School is committed to a three-year lease from September 1 – June 30 for an average of $120,000 per winter. Enjoy this fabulous shingled traditional home for the summer, while your tenant occupies it for the winters or also rent it out for the summer season for additional income.”

Bridgehampton South Estate New Construction – $12,400,000
The Goods – Spectacular 17,578 sq.ft. estate located south of the highway on 2.58 acres featuring high-quality finishes throughout. This amazing home offers 14 bedrooms, 17 ½ baths with a double-height foyer, great room, family room, living room, gourmet kitchen, library, media room, and three fireplaces. Main house has finished lower level, including wine cellar, sauna, theater, staff quarters, and gym. Recreational pavilion has living space on three floors with two bedrooms and three baths, plus a kitchen and living room. All-weather tennis court, 25’ x 60’ heated gunite pool, Jacuzzi, and heated three-car garage.

Why it’s a good deal – Listing agent Vincent Horcasitas of Saunders & Associates says, “This property is the best deal in the Hamptons. Hands Down!! 17,578 sq.ft. in two structures on 2.58 cleared acres with pool and tennis and walkable to the village for $12.4. It’s a very unique estate in Bridgehampton South.”

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