Realty Check

Hot sales and listings…along with the latest real estate news in the Hamptons.

Oh dear, another summer gone! But fret not, summer lovers, because autumn, the time of mellow fruitfulness, is possibly the best ever season in the Hamptons. What we’re hearing from agents is that while inventory is no longer at the rock bottom numbers seen in 2022, quality properties remain hard to find. Buyers need to pounce on whatever property suits their fancy as it may be quite a while before something similar pops onto the market. High-end construction is thriving in areas not typically seen as the traditional estate areas; as the cliché goes, they’re not making any more land!

Hold Onto Your Riding Helmets, Folks!

Back in 2015 and 2016, prominent real estate developer Ben Ashkenazy and his wife Debra
assembled a 76-acre equestrian property in Water Mill’s horse country. They spent $27.6M on the four-parcel spread, which includes a lavish home by luxe builder Jeffrey Colle. Now, the couple have put the property on the market for a cool $125 million, which makes this the current most expensive listing in the
Hamptons. Bespoke Real Estate has the exclusive listing.

The colossal estate includes creature
comforts for both humans and equines. Part of it, Pinnacle Farm, boasts a 16-stall barn, 11 paddocks, and both indoor and outdoor riding arenas. It’s adjacent to a 184-acre agricultural preserve.

The 20,000 square foot house includes the usual creature comforts, like eight bedrooms, nine full and four half bathrooms, floors made from 700 year old French oak beams, nine antique French stone fireplaces, hand-carved stone bathtubs
imported from Italy, and so on. Of course there’s also a huge pool, a pool house, a storage barn and a sunken tennis court. So, yeah: pretty nice! We’ll be very interested to see what happens with this one.

New is In
An interesting newly built property is in the Village of Southampton. Why is new so desirable?
Listing agent Angela Boyer-Stump says, “For many, it’s back to the office with longer work weeks.
Weekends are now for recharging and not renovating. Today’s buyer is primarily looking for new construction, immediate gratification and turnkey homes. If you’re looking for a solid investment that checks all these boxes, I am currently representing a stunning newly constructed, seven bedroom Southampton Village traditional. Built by Brown Construction Corp., this geothermally heated offering is private and sits on an oversized lot. It’s the epitome of quality construction and you can move right in!” Well, let’s take a tour, shall we?

Asking just under $6.4 million, the 6,200 square foot residence also includes seven full and one half baths. Set on 0.61 of an acre, of course the property includes a two-car garage, pool with a lounge ledge and a fabulous grilling station, along with a rolling lawn for badminton or croquet. Now you will be revved up for the work week.

The two-story house contains the usual high-level features, like an open living area with gas fireplace, dining area, and an eat-in kitchen. There’s also an office/media room that can be closed off for privacy, a powder room, and a junior primary ensuite bedroom. The second floor offers a primary suite with private balcony, fireplace, walk-in closets and a bath. Three additional good-sized ensuite bedrooms and a generously sized laundry room complete the second floor. This turnkey new construction is sure to go fast.

The 1,790 square foot lower level includes two bedrooms, two bathrooms, a wet bar for
entertaining, a lounge with ample space for gym equipment, a second laundry room, and a finished walk out space. Energy efficient, the property boasts geo-thermal heating, an advanced alarm system and central AC. Now if you’ll excuse us, we’re going back to that lounge ledge.

Dock Around the Clock
One amenity suddenly in higher demand is a dock. Even if they’re not boaters, many regard a dock as an amenity that will only become more sought after in the future. One current listing, represented by Patrick McLaughlin at Douglas Elliman Realty, is on Shelter Island. On 1.16 acres, the property is bolstered by a newly rebuilt 130’ bulkhead and also includes a private dock, boat ramp, and beach front. 

Asking $5.25 million, the compound includes a main residence, with stunning views of Smith Cove and Sag Harbor, as well as a separate guest cottage. Between the buildings is an adorable small pond. The main house includes four bedrooms and four baths while the guest house offers two more bedrooms and baths. “It’s a once-in-a-lifetime opportunity,” notes McLaughlin.

Iconic Midcentury Lines
Butterfly-shaped rooflines, invented in 1930 by Le Corbusier, have been setting hearts aflutter since 1930. One house, in the Northwest Woods of East Hampton, is now on the market, asking just under $3 million, has been brought to market by Kathy Konzet of Sotheby’s International Realty. The listing says the Butterfly House exemplifies “clean lines [and] open spaces with dramatic innovative spirit.” Owned by celebrity hairdresser Sally Hershberger, this remarkable Hamptons architectural gem is truly a unique find in today’s market.

The 2,000-square-foot house, built in 1976, has since been renovated. There are just two bedrooms at present, but the listing says two more could be built. There are two and a half baths. Inside, the house contains all the best features of midcentury architecture: open concept living, huge expanses of glass, skylights, and natural materials, including a stone fireplace. Outside, one acre of land has been landscaped with native grasses and specimen trees. Best of all, a residents-only sandy beach on Gardiners Bay is just a stroll away.

Modern on the Pond
A much more modern house, just as visually striking, has been listed on gorgeous Georgica Pond in East Hampton. Asking price for the 2008 contemporary, set on 2.4 acres of pondfront land, is a hefty $37 million. Brokers are Frank Newbold and Beate Moore of Sotheby’s International Realty.

The 7,000-square-foot residence boasts walls of windows to make the most of the views down to the ocean and the 578 feet of direct pond frontage. There are just four bedrooms and five bathrooms, as the main focus of the building is to house an extensive art collection. There is also a separate studio cottage. 

There’s an interesting history to the property. The previous residence, built in 1963 by Harry Bates, was architecturally notable. Known as the Gordon and Nina Wayler Bunshaft House, aka Travertine House, the property was left by the Bunshafts to the Museum of Modern Art, which sold it in 1995 to Martha Stewart. Yep, you remember correctly, this was the property over which Martha feuded for years with Harry Macklowe. Eventually it was sold to Donald and Bonnie Maharam, who described the house as “decrepit and largely beyond repair” and demolished it in 2004, after which the current residence was built.

Ultimate Luxury in Bridgehampton
Mercer Built has once again redefined luxury with this new residence on Bridgehampton’s
Butter Lane. Spanning 8,300 square feet, the two-story home is designed for both entertaining and
wellness. The outdoor space features a covered patio, motorized pergola, barbecue, and heated pool with spa. Inside, the light-filled great room, gourmet kitchen, and expansive dining area create a seamless flow for gatherings. The primary suite boasts a private terrace, two walk-in closets, and a lavish bath. The finished lower level offers a wet bar, rec area, TV lounge, and a striking glass-walled gym, all accessible by elevator. With 7 bedrooms, 8.5 baths, and top-tier amenities, this home epitomizes luxury living.