YOWZA! Tiny Sag Harbor Cottage Nets $10 Million!
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 for $10,150,000.
Of course the two-bedroom, one bath ‘30s bungalow, which was sold “as is,” is on hoity toity Glover Street in the heart of the Historic District (number 37 to be exact in case you want to eyeball it.) And it boasts 170 feet of frontage on Sag Harbor Cove. And, of course, the Sag Harbor market is sizzling hot. But who knew it was this scorching?!
It is obvious that the new owner, an LLC, will renovate and expand upon the existing structure, which was in the same family for 70 years. “This is about the rarity of the location . . . and all the possibilities you have to build your dream home with tranquil views and stunning sunsets yet still be in the village,” reads the listing by Christina Galesi of Sotheby’s.
This turn of events begs the question: Will other Glover Street properties raise their prices? Let’s take the 1785-built house owned by famed interior designer Steven Gambrel. One of the most beautiful homes in the Hamptons, will the $12.5 million ask go up?