Billionaire Lane Sale

A partially built 19,980-square-foot mansion on Meadow Lane in Southampton has finally found a buyer after being abandoned since 2018. This massive oceanfront parcel, the largest on prestigious Meadow Lane, was initially listed for $85 million and went through several price reductions before entering contract at $49.5 million. The final sale price and the buyer’s identity remain undisclosed. The new owner may choose to complete the Moroccan-inspired design, reimagine the project, or demolish the structure.

The 9.75-acre property, at 1320 Meadow Lane, is owned by Meadowcore LLC. The massive property boasts 550 feet of Atlantic Ocean frontage, deeded Bayfront access, tennis courts, and a 1,700-square-foot pool. The unfinished two-story mansion features distinctive arched windows, pyramid-shaped peaks, and a sandstone facade. Despite its grand ambitions, construction halted years ago, leaving its fate uncertain.

The listing was a co-exclusive with Tim Davis of Corcoran and Bespoke Real Estate. Property records show Meadowcore LLC, allegedly linked to billionaire Thomas E. Sandell, paid $37 million for the land in 2007 and allocated $19 million for construction. The mansion was initially envisioned as a luxurious estate with up to 10 bedrooms, 10 full bathrooms, and three half-baths. Had it been completed, the property was expected to list for over $150 million.

Price reductions were gradual, dropping from $85 million in 2021 to $75 million, then $67 million, before settling at $49.5 million. Renderings suggest a modern transformation could replace the unfinished structure. The property’s appeal lies in its location, privacy, and proximity to Southampton Village.

Meadow Lane, often called “Billionaire Lane,” is home to many notable figures, including hedge fund manager Ken Griffin, who purchased Calvin Klein’s nearby 7-acre estate for $84 million in a 2020 off-market deal, and New England Patriots owner Robert Kraft, who purchased another neighboring property for $43 million in 2021. The new owner’s vision for this prime estate remains to be seen, but the potential is undeniable.