Town & Country Shares Top 10 Hamptons Real Estate Deals of 2016

Town & Country Shares Top 10 Hamptons Real Estate Deals of 2016

Town & Country has released their top 10 list of most expensive Hamptons properties sold in 2016. Depending on how you look at it, 2016 was either a biggish year for real estate or what Town & Country’s calling a “Year of the Great Divide.” Town & Country reports sales of parcels separately, even if a number are sold at once in a deal with a single seller and single buyer. For example, they’re ranking the $110 million sale of Lily Pond Lane properties separately; so that 101 Lily Pond Lane comes in at number two and 93 Lily Pond Lane at number seven, even though they’re both part of the same sale. Ditto with the Actors Colony Road sale of Richard Gere’s Strongheart Manor to Matt Lauer. This tends to make the deals look smaller than they were.

Andy Warhol's "Eothen" estate in Montauk

Andy Warhol’s “Eothen” estate in Montauk sold for $48.7 million in 2016, Photo credit: Alex Ferrone courtesy of Douglas Elliman Real Estate

What Town & Country is calling “the Great Divide” is the difference between their ranked number two sale of $63 million and the number three sale of $27.5 million. T&C notes that 2012 was the last time #3 was in the $20s. However, again, the list would come in differently if multiple parcels sold at once were added together. Furthermore, the list is dependent on exactly when a property is considered to be sold: Property records show that 16 Cliff Drive, Montauk, better known as Eothen, the former Warhol estate (above), officially changed hands on 1/12/16 for $48.7 million, but it’s not on the T&C list.

Now, to the list!

David Geffen's property at 199 Lily Pond Lane, East Hampton

David Geffen’s property at 199 Lily Pond Lane, East Hampton, Photo: Google Earth

1. $70,000,000 199 Lily Pond Lane, East Hampton
Josephine Chaus to David Geffen

The biggie, of course, was the April sale of the oceanfront Lily Pond Lane estate of the late fashion executive Josephine Chaus to entertainment mogul David Geffen. Geffen paid $70 million. (Though we feel compelled to point out to Geffen that the Zestimate for 199 Lily Pond Lane is only $9.26 million.) The two-acre spread includes two buildings, including a gambrel-style main house, a pool, tennis court, and its own small pond.

2. $63,800,000 101 Lily Pond Lane, East Hampton
Scott Bommer to Michael S. Smith

Just down the road: hedgie (and serial flipper) Scott Bommer sold 101 Lily Pond Lane to Houston gas billionaire Michael S. Smith for $63.8 million. He also sold two other parcels at the same time for a total of 6.2 acres and $110 million. Bommer had paid $93.9 million in spring 2014 for the properties.

3. $27,500,000 Squabble Lane, Southampton
Sullivan Catherine Mcd to Berger Irving, Forstmann J Anthony, etc.

We think $27.5 million (a mere $18 million off the original asking price of $45 million) is a bargain for 4.5 acres of land with 500 feet of oceanfront and private frontage on Wickapogue Pond. There’s also a large, dated house by Francis Fleetwood.

4. $27,250,000 196 Bay Lane, Water Mill
Emanuel, Elizabeth Stern to Calf Creek LLC

An 8-bedroom gambrel decorated by Steven Gambrel, along with 2.7 bayfront acres, a sunken tennis court, pool and dock originally asked $33 million.

5. $23,935,500 26 Actors Colony Road, Sag Harbor
Tushita Trust to 26 Actors Colony LLC

This is part of Strongheart, Richard Gere’s home in North Haven, sold to Matt Lauer and family. (“Tushita Trust”? Not sure we want to know.)

6. $23,614,800 77 Ox Pasture Road, Southampton
Scott, Courtney Goldstein to Ox Pasture Properties LLC

Gardenside, the beautiful former estate of Consuelo Balsan, once the Duchess of Marlborough, comprises a beautiful 9,000 square foot house built in 1873 and recently renovated and 1.84 acres of land with a clay tennis court and 45′ pool. Original asking price was $28 million.

7. $22,000,000 207 Highland Terrace, Southampton
Highland Terrace Realty to Hampton Highland LLC

A modern compound built by former Goldman Sachs partner Jonathan Sobel, including a 15,000 square foot home.

315 Rose Hill Road, Water Mill

315 Rose Hill Road

7. $22,000,000 315 Rose Hill Road, Water Mill
Andrew Borrok to 315 Rose Hill Holdings LLC

This gigantic (22,000 square foot), elaborate home on four-plus acres spent at least four years on the market; original asking price was a rather laughable $58.5 million.

7. $22,000,000 93 Lily Pond Lane, East Hampton
Scott Bommer to 93 Lpl LLC

Another part of the Lily Pond Lane sale by Scott Bommer.

8. $19,525,000 313 Dune Road, Bridgehampton
Jeff Blau to 313 Dune Road LLC

A 1.5-acre oceanfront property with pool, spa, tennis court and a 6-bedroom house originally asked $32 million.

9. $18,000,000 26 West End Avenue, East Hampton
26 EastHampton LLC to Villadom Corp

One of the parcels formerly part of Courtney Sale Ross’s Cody House, which sold to David Geffen, was sold again when Geffen bought on Lily Pond Lane.

10. $15,990,000 1225 Flying Point Road, Water Mill
Atlantic Property, Tracy Landow to Illawarra LLC

The house is a little McMansiony, but who cares when the property is both oceanfront and bayfront, including a private walkway to the ocean and your own bayfront dock?

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