Realty Check

With a Dollop of Hamptons Gossip.

Perelman in Contract
Back in September, Ron Perelman, zillionaire owner of the Creeks, listed his second East Hamptons estate. Asking $115 million, the 9.25-acre oceanfront property, on Lily Pond Lane, was listed by Sotheby’s agent Harald Grant. Perelman paid just $3.75 million for the property back in 1994, which was occupied by his ex-wife Claudia Cohen until her death in 2007. With 385 feet of ocean frontage, the property could possibly be subdivided. The existing house is a 1971 teardown, though of course there’s a pool, pool house, and tennis court with pavilion.

The property, which is now in contract, will net Perelman closer to $80 million than the hundred or so he was looking for, according to a profile in the New York Times. Thing is, buyers smell the scent of desperation as Perelman frantically attempts to downsize his enormous business and real estate holdings. We’ll be very interested to see who buys the property and of course, what happens to it. Stay tuned.

Some Top Sales for 2021
Now let’s discuss some big sales that went down in the year just concluded. Of course, you know the number one sale of the year — that of Jule Pond, formerly Fordune — but some other huge trades flew under the radar a bit. It seems to us that last year a record number of big sales occurred off the market. In 2021, five of the top ten deals were done off market. In all, the top 10 deals totaled a whopping $607 million, about 35 percent more than 2020’s list.

Another difference this year? For once, Meadow Lane wasn’t the most expensive street in the Hamptons. This year Meadow Lane had just two entries on the list, adding up to $113 million. Perennial bridesmaid Further Lane had a great year, with three entries on the list adding up to $174 million. We’ve included the Spaeth Lane sale with Further Lane, since of course Spaeth leads off Further. (Cheating? Come at us, bro!) But even if we left it off, Further Lane would squeak past Meadow with $114 million in sales. Congrats, Further. 

Yet Another Off-Market Deal
High-end art world couple Marlene and Paul Herring have just upgraded from Bull Path, East Hampton, to a significantly larger house, still in the Northwest but closer to the beach. The off-market sale closed for $5.65 million, with the Atlantic Team at Douglas Elliman representing both the buyer and seller.

Paul Herring and his identical twin brother John run a very high-end, exclusive art dealership based on Manhattan’s Upper East Side. Paul’s new home is set on 3.87 acres, with private access to Northwest Harbor. Built in 2008, the Mediterranean-style stucco residence offers 9,000 square feet of accommodation. The classically styled house, with 5 bedrooms and 10 bathrooms, boasts a two-story foyer with staircase, a grand dining room, formal living room and a spacious kitchen. The house also includes a sitting room, a library/media room, a morning room, a mud room, six fireplaces, and an elevator. The lower level features a 1,000-bottle wine cellar, gym, and a steam sauna. There is a gunite pool and spa, a pool house, wisteria covered arbors, and a fountain with a columned pavilion overlooking a croquet lawn. Specimen trees include beech, London plane and cherry trees, along with an allée of hornbeams. Sounds classically perfect to us.

Oceanfront Association
A sale that closed in December under most people’s radar was that of 38 Association Road, Wainscott. The two-acre property, with 161 feet of oceanfront, was carved from the site of the former guesthouse of iconic Kilkare, next door. The property was asking $37 million, but closed for $30 million. 

In 2005, the Shingle Style house, designed by Shope Reno Wharton, and built by Ben Krupinski Builder, began to rise above the dunes. In all, there is 6,537 square feet of space with five bedrooms and five full and two half baths. Of course, most rooms have a beautiful ocean view, or views of open space or Georgica Pond. The seller was investment banker Fred Seegal. Bespoke listed the property and Michelle Tiberio and Andy Volet of The Corcoran Group brought the buyer.

Back in the Saddle Again
A Bridgehampton equestrian compound has come back onto the market just six months after its last sale. 

Edward Khalily purchased Campbell Stables in August for $14 million. The property first hit the market in 2017 for $40 million, with the price gradually cut over the years, until a last ask of just under $20 million in May 2021. 

The property, on 16.5 acres south of the highway, includes a 2.6-acre agricultural reserve lot. There are five buildings surrounding a courtyard, with 27 stalls in total, 14 paddocks, three outdoor riding rings with viewing stand, as well as an all-weather 15,000-square-foot arena. 

Khalily reportedly gave the property a $2 million refresh, and is now asking $16 million for the place. Douglas Elliman’s Sara Goldfarb and Tal Alexander have the listing. 

Amagansett Bates-Masi Trades
A stunner of a compound near the beach in Amagansett has sold. Comprising a main house plus a cottage in back, the striking compound was designed by Bates Masi + Architects and completed in 2017. The two-story main house was inspired by the Amagansett Life-Saving Station. Bates Masi + Architects, in a modern reinterpretation of the way Life-Saving Service members hung boats and lifesaving apparatus from the station’s wooden post and beam structure, the house features an exposed steel structure that defines the main living spaces, creating a framework onto which lighting and maybe even a surfboard can be hung. Out back is a private two-bedroom guest cottage with 1.5 baths and its own deck. The property also features two outdoor showers plus an outdoor foot wash. 

The property was listed in April for $9.995 million, with a last ask of $8.895 million. The stunning compound closed for $8.35 million. Brown Harris Stevens’ Timothy O’Connor had the listing. The buyer was brought by Michael Schultz of The Corcoran Group.

Coming Together
Holiday House NYC recently hosted the opening of their ‘Coming Together’ Tabletop event at The Elizabeth Taylor Mansion, helping to raise critical funds for the Breast Cancer Research Foundation (BCRF).

Founded in 2008 by breast cancer survivor, Iris Dankner, who was joined at her exciting and festive live showcase by co-chairs Queer Eye For The Straight Guy’s Thom Filicia, Amy Lau and Jean Shafiroff. Over 200 guests walked throughout the stunning three-floor space. The evening featured the talents of multiple designers, each of whom presented chic and cutting-edge holiday tabletop designs featuring the latest interior design trends. 

The event sponsors included Jiun Ho x Cambria, 41 Madison x Waterford, Top Hat Home Services, The Melissa Cohn Group, FJ Hakimian, Sebastian Capital and Stark. Media partners included Modern Luxury Manhattan and Hamptons Real Estate Showcase.

All proceeds from Holiday House events benefit the Breast Cancer Research Foundation. You can learn more about Holiday House by visiting their website at www.holidayhousenyc.com.