Realty Check

Autumn. Season of mellow fruitfulness. Mild days, chilly nights, and mind-blowing slowdowns on Montauk Highway around Hank’s Pumpkintown. Also, of course, a busy season for Hamptons real estate. Let’s take a look at who’s buying and selling lately.

Lauder Sells for $56 Million
Ronald Lauder, heir to the Estee Lauder fortune, is kindly selling 30 acres of Wainscott farmland to the town of East Hampton. Lauder purchased the property three years ago for $66 million in order to save it from development. We don’t blame him — it’s a gorgeous spot with a particularly attractive old barn. Now, using Community Preservation Fund money, the town is paying Lauder $56 million for the land, which is the most expensive ever CPF purchase. Lauder is losing $10 million on the deal, but the billionaire is hardly short of cash.

“His willingness to consider selling the parcel to the town for considerably below fair market value exemplifies a profound commitment to land preservation,” the town said in a statement. Zack and Cody Vichinsky of Bespoke represented both sides of the deal.

Movin’ Out
A little bit upisland, Long Island’s favorite son Billy Joel has relisted his huge estate, MiddleSea, named after the first note Joel learned on the piano, middle C. Asking $49.9 million, the estate has just undergone a huge renovation, bringing it up to par with today’s luxury standards. Now it features such posh amenities as 30-foot ceilings, marble and hardwood floors, a spa, a ballroom, a wine cellar and a bowling alley.

“Every detail, from the architecture to the landscaping, has been carefully curated to maintain the essence of the property while elevating it to meet today’s highest standards,” said Emmett Laffey, CEO of Berkshire Hathaway HomeServices Laffey International Realty, in a statement.

Set directly on Long Island Sound, MiddleSea, with Oyster Bay to the left and Cold Spring Harbor to the right, boasts gorgeous water views wherever one looks. And there are plenty of places to gaze on the property. The 20,000-square-foot main house features five bedrooms, eight bathrooms, and plenty of places to sit and enjoy the view. 

Not enough space? There are three other houses on the property: a five-bedroom gatehouse, a three-bedroom, less formal beach house and a three-bedroom guest house. 

Outside, there are rolling green lawns, gardens, two swimming pools, a gazebo and a covered outdoor dining area, ideal for entertaining if the ballroom is full. The private beach, dock and boat ramp accommodates water fun, and there’s a private helipad should any world-famous musicians drop by. 

A Designer’s Sale
A very interesting and creative property sold for $17.9 million over the summer. The Southampton estate of the late architect and designer Thierry Despont boasts 34 acres as the former Southampton Riding & Hunt Club. Despont had listed the property in 2022 for $23.5 million. After Despont’s death in 2023, the estate was lowered to $19,950,000, with a last ask of $18.4 million.

Once the main barn, the 5,536-square-foot, six-bedroom house includes a central cobblestone courtyard on three sides with a fountain. Every room overlooks the courtyard.

There’s also a four-bedroom guest house, a pool house, and large garage cum art studio. The two latter are also converted barns. The pool house, obviously near the infinity-edge pool, includes a sitting area, workout room, sauna and a steam shower.

Despont’s high profile clients include Bill Gates, Calvin Klein, Oscar de la Renta, Conrad Black, and Mickey Drexler. He also oversaw the stunning renovation of Bernie Madoff’s former house in Montauk. In the Big Smoke, Despont worked on the conversion of the Woolworth Building and the restoration of the Statue of Liberty.

According to The New York Post, the buyer is a hedge funder (of course) who paid cash. The estate was repped by Michaela Keszler, Paulina Keszler, Martha Gundersen and Paul Brennan — all agents of Douglas Elliman Real Estate.

Hello, Stallone Girls
Sylvester Stallone is in contract to buy his three daughters a $25 million mansion in East Hampton. The family relocated to the East Coast to film their reality series, and twentysomethings need a place to hang their hats in the Hamptons, don’t they? Dad Stallone lives in a Palm Beach waterfront estate he bought in 2020 for $35 million.

The new place, for which Stallone is paying cash, has plenty of room for Sophia, Sistine, and Scarlet, and their friends. On more than an acre of land, the eight-bedroom house includes almost 12,000 square feet of living space. A mile from the beach, the house also boasts nine bathrooms.

The place is yet another production by James Michael Howard, who sells the mansions fully furnished and turnkey. Every house is always impeccably designed in the best taste. In fact, according to the listing, “Every detail, from furniture to rugs, curtains and lighting, featuring antiques from around the world, has been meticulously chosen for this spectacular estate home.” Custom archways add elegance and architectural flair in James Michael Howard’s signature blend of modern and vintage styles.

Howard infused nearly every room with vibrant jewel tones while preserving breezy coastal vibes. The kitchen boasts top-of-the-line appliances, brass hardware, and marble countertops, complemented by a cozy blue breakfast nook by the windows.

Each of the three levels are easily accessible via an elevator. The expansive lower level offers a recreational area complete with a pool table, a home cinema, and ample space for entertaining guests. Additional highlights include multiple wood-burning fireplaces, a radiant-heated mudroom, a detached two-car garage, and 18th-century antiques.

Outdoors, the girls will enjoy a large heated gunite pool, a detached pool house, a covered entertaining area, and an outdoor shower. The property was represented by Martha Gundersen and Paul Brennan of Douglas Elliman and Gary DePersia of Corcoran.

Ch-Ch-Changes
Jake Sinacori recently joined The Corcoran Group and has quickly earned a reputation for being a skilled negotiator and for his dedication and client-focused approach. He excels in rentals, sales, and investments across the Hamptons.

One thing he is most proud of is becoming a dedicated office representative for Corcoran Cares, actively contributing to the local community through donations and food drives. Clients commend his professionalism, work ethic, and dedication to their needs. Beyond real estate, Jake is ISSA Certified personal trainer who loves being outdoors spending time with his dogs, traveling, and volunteering at the Long Island Youth Mentoring program.