The sale of this attractive Sagaponack property, owned by veteran music industry titan Antonio “LA” Reid and wife Erica, has been a long time coming. It was originally listed back in 2013, asking $19 million, and has been on and off at the market at various prices ever since. It’s now in contract with a last ask of $9.95 million, repped by Bespoke. Reid and wife paid $10 million for the property in February 2006. Ouch.
So what was the issue? Aspirational pricing and possibly a dated interior. 2006 was close to the top of the market, and the $13 million asked a year ago was just too high in these more realistic times. And the interiors, described as transitional, are neither the stark modern nor the trad higher-end Hamptons buyers prefer.
We quite like the interiors, though. They’re a switch from the all-white look and they’re interesting, with beams and natural stone. The house is 9,630 square feet with 8 bedrooms, 9 full and 1 half bathrooms. Particularly notable is the two-story master suite with glass doors to a terrace, a sitting room with wet bar, and a private massage room. The finished lower level includes a wine room, media room and gym.
Outside, there are 3.4 acres of land (very generous), with very pretty landscaping including a lily pond, a gunite pool (natural style, not the rectangle favored today), a tennis court surrounded by honeysuckle, and a “hidden” hot tub.
Congrats to everyone, especially the new owners.
For more, click here. 836 Sagg Main, Sagaponack.