Realty Check -Latest Hamptons Real Estate News

Rare Land Offer
Attention builders: A four-acre land parcel south of the highway in East Hampton is on the market for $4.995 million, down from $7 million in 2016. Great marketing pitch: The property at 350 Pantigo Road has ties to Jackie Kennedy who rode there way back when and boarded her beloved horse, Buttercup. Old timers might recall that it was also the former home of Stern’s Department Store. Represented by Benjamin Dixon and Matthew Mackay of  Douglas Elliman Real Estate.

Montaukopoly
The folks at Gurney’s are in talks to buy the Montauk Yacht Club, according to the New York Post.  To remind you: Developer George Filopoulos bought Gurney’s in 2013, then purchased neighboring Panoramic View in 2016 with partner Lloyd Goldman. The Montauk Yacht Club boasts 232 boat slips, 107 hotel rooms and two restaurants.

On the Lowdown
Former “Today” show host Matt Lauer’s previous Sag Harbor estate has been reduced by $2 million, a mere nine months after listing it for $15 million. The 8,000 square-foot colonial home presides over 25 acres and includes a 70-foot heated pool, pool house, tennis court and “secret garden.” It was the home where the former TV star lived before the sex scandal that tarred his reputation. Susan Breitenbach of  The Corcoran Group has the listing.

Ballerina’s Lair
The condo belonging to former prima ballerina Karin von Aroldingen is on the market for $1.15 million. The ground-floor, 1,800 square-foot property in Southampton Village’s Hampton Club has three bedrooms, three baths, vaulted ceilings, a wood-burning fireplace and screened-in porch that serves as a dining room. The German dancer, known as George Balanchine’s muse, was famous in her day as star of the New York City Ballet. James Peyton of The Corcoran Group has the listing.

Trattoria War
A couple of years after leaving her restaurant Tutto Il Giorno in Sag Harbor behind, it looks as if Gabby Karan de Felice will be heading back. Back in 2016 her former partner took over the Bay Street business and renamed it Dopo La Spiaggia. It has thrived since. But let’s see how it does when de Felice moves her Italian eatery into the Main Street space she has taken over that most recently housed The Muse. In a second blow to Dopo, it seems that the restaurateur’s mom, Donna Karan, will be moving her shop, Urban Zen, from its location next door into the new space.

Dirty Water
Georgica Pond is a cesspool reports a recent study. And you can’t blame people. Dogs and birds are responsible for most of the fecal bacteria measured there, according to the East Hampton Star. “Human-derived bacteria accounted for less than 5 percent of the total.” Dogs accounted for 67 percent, birds for 24 percent and deer for 6 percent. But don’t give man’s best friend most of the blame. That percentage “could include fecal bacteria from such species as cats and rodents.”

Sag Harbor Sizzles
Two tiny Sag Harbor houses have been scooped up mere weeks after being listed. A 540 square-foot Noyack cottage on a quarter acre asking $650,000 went into contract after only 17 days on the market while a 750 square-foot abode was marketed for only a month before being grabbed for $965,000, $115,000 over ask. Michael Daly of Douglas Elliman Real Estate had that listing on Grand Street. There was a collective gasp among Hamptons real estate agents the other day when it was reported that a miniscule 654 square-foot Sag Harbor edifice on shy of an acre was sold.

Sag Harbor Still Sizzling
Yikes! Tongues wagged when the aforementioned miniscule Sag Harbor structure noted above, was sold for—are you ready—$10,150,000. The two bedroom, one bath ‘30s bungalow on Glover Street was sold “as is,” meaning it needs more work than Cher. The reason? It boasts 170 feet of frontage on Sag Harbor Cove. Listed by Christina Galesi of Sotheby’s International Realty.

Price Chop
A spectacular 12,000 square-foot mansion in Water Mill has been lowered by a whopping $7 million. The property at 258 Horsemill Lane, which came on the market in June at $39 million, is now asking $32 million. With 360 feet of water frontage on Mecox Bay and a waterside dock, the surrounding 7 acres of land has been farmed by the same two families since the 1600s. Listed by Tim Davis of  The Corcoran Group.

Mama Mia!
Tony Soprano’s Shrink, Lorraine Bracco, has listed her Bridgehampton home for $3.8 million. The Academy Award-nominated actress purchased the one-acre property at 460 Butter Lane from publishing heiress Anne Hearst in 2004 for $1.6 million. The 4,500 square-foot traditional, which overlooks an 11-acre preserve, features 5 bedrooms, 4.5 baths, a media room, pool and two fireplaces. Felicitas Kohl of  The Corcoran Group has the listing.

Rustic Look
Local firm MB Architecture, helmed by Maziar Behrooz has been featured in architecture pub Dezeen for a home in The Lanes of Amagansett. The firm clad a concrete Amagansett house and matching garage in pale timber to give the simple structures a rustic look. “MB Architecture chose to reconnect with the smaller scale of the area, so oriented the barn-like structures perpendicular to the street to minimize their visual impact.” Hosannas are in order.