Realty Check – Latest Hamptons Real Estate News

Welcome Iron Man
East Hampton has gotten just a little bit more Hollywood. Acclaimed actor Robert Downey Jr. has purchased the historic Edward DeRose Windmill Cottage in East Hampton. A prime example of architectural folly, the house features a nonworking replica of a former local windmill – a romantic gesture marking the area’s agricultural heritage. While going on and off the market for the past few years, it was sold last summer to an LLC for $10.5M, according to property records. The rustic abode is surely a welcome refuge for the Iron Man. Listed by Peter Turino of Brown Harris Stevens.

What’s New is Old
After being purchased in 2015 by upisland developers The Beechwood Organization for $23M, the 5-acre Village Latch Inn on Southampton’s Hill Street has been given an extensive facelift. The new lodgings are being unveiled this summer as the Latch Pop-Up Inn while the company awaits rezoning to allow for a condominium complex. So if you’ve always been curious about the historic property – it was originally built at the turn of the last century as an annex to Manhattan’s Irving Hotel – now’s your chance to book a room.

Uptown Boy
A bevy of high-profile celebs have stepped up to support the campaign to rebuild the Sag Harbor Cinema. Billy Joel, Martin Scorcese and Harvey Weinstein have lent their names and wallets to the effort to return the village landmark to its Art-Deco charm. The new theater’s popcorn stand will be named for Joel, in honor of his generous gift, according to the Sag Harbor Partnership, the group behind the beloved building’s resurrection. As renowned director Scorsese said, “For as long as I can remember, the Sag Harbor Cinema has stood as a beacon of culture on Long Island.” The fund needs to reach a goal of $6M in donations and pledges by July 1st. At press time they have raised $2M.

Ice House Cometh
An historic compound in East Hampton boasting a Victorian main house built in 1885 and converted ice house (now a guest house) has been listed at $4.95M. Set behind a white picket fence, the “Frank Cartwright house,” named for its original owner (an iceman), maintains many original features including its staircase and pine floors. But the current owner is a real estate agent so she knows what appeals to today’s buyer. Case in point: the first-floor master suite with cathedral ceilings and French doors that open to a brick patio and garden. The property also contains a second guest house, once the residence of Cartright’s daughter. Listed by Leslie Hillel of Halstead, who purchased the property in 1994 for $625,000.

Fit for a Baron
A 4.5-acre oceanfront estate that once belonged to legendary broadcaster, Roone Arledge, has hit the market for $55M. The property at 382 Barons Lane in Southampton last sold for $19M in 2004.  The 1991-built abode, designed by Eric Woodward, also commands views of ponds and farm fields. The 3-level, 8-bedroom, 8-bath domicile features a great room, two ground floor masters and roof deck with stunning 360-degree views. Harald Grant of Sotheby’s has the listing.

Beach Shack
We wouldn’t go so far as to call it a shack. Okay, maybe we would. A 1,700 square foot abode that happens to occupy about an acre of oceanfront land in Sagaponack has been listed with Linda Nasta of Corcoran for $13.5M. The term teardown was invented for this kind of property. Actually we’re amazed that this sort of has-been structure still exists in our bulldozer-happy land.

Ch-Ch-Changes
Noë Brown, who grew up in the islands of French Polynesia, has joined Nest Seekers. With Master’s degrees in Counseling Psychology, Holistic Psychology, and Business Marketing, she moved to the Hamptons from Maui, where she worked with real estate agents leading their marketing platforms. Sandra Phillips, who has maintained a stellar reputation as a top producer in our community for over 25 years, has joined the Hamptons Realty Group as an associate broker. With 25 years of experience in land sales, home builds/renovations, interior and landscape design, property management, and rentals, Timothy O’Connor has joined the East Hampton office of Halstead.

Hold the Tonic
Majestic Gin Lane has been on a real estate binge of late. First and foremost is the listing of La Dune, a 3.7-acre compound boasting two residences, both built in 1900 by iconic firm McKim, Mead and White. Between the dual homes there are 12 bedrooms, two pools, nine fireplaces, a gym and billiards room. If the property, listed for $145M by Harald Grant, gets its ask, it would be the second most expensive Hamptons home ever sold. But that’s not all folks, the 9,000 square foot home at number 237 has been listed for $17M while the 7,000 square foot property at number 281 is asking $15.75M.  Meanwhile, number 328, which was listed in September for $32M has just sold for $31M. The sellers, are the heirs of car manufacturer John Poster, who bought the modest oceanfront cottage in 1984 for $175,000. Listed by Beata Moore of Sotheby’s.