Norman Jaffe-Designed House Fetches $16.8 Million

The new owners who won a Norman Jaffe-designed house in East Hampton Village at auction in January, closed on the deal on Wednesday.

The closing price was $16.8 million, according to Sotheby’s Concierge Auctions. The new owners have not been identified.

The classic Jaffe house at 100 Further Lane was put up for sale in December through the world’s largest luxury real estate auction marketplace, in cooperation with the property being listed with Rebekah Baker of Sotheby’s International Realty’s East Hampton brokerage. The asking price had been $27.5 million.

Such an auction offers an alternative to the traditional marketplace for a property that is difficult to value.

The 6,000-square-foot house, built in 1980, sits on a three-acre property on one of the most coveted streets in the Hamptons. It is filled with many signature elements of Jaffe’s designs, such as a natural stone fireplace, warm, natural wood and high ceilings.

Jaffe, an architect noted for his contemporary, sculptural homes, designed more than 600 projects in his 35-year career, 50 of which were in the Hamptons, where he became known for his pioneering designs before his death in 1993.

The house is available for rent while the new owners make future plans for the home, Christopher Covert of the Modlin Group Hamptons told Hedges recently. It is asking $400,000 for Memorial Day through Labor Day, $200,000 for August through Labor Day, $200,000 for July only, or $375,000 for July and August.

After the auction closed on January 5, a spokesperson confirmed that there was a buyer, but did not disclose the price until the deal closed.

“We are proud to host the sale of 100 Further Lane. Our extensive sales outreach and unmatched network of buyers paired with our savvy and skilled listing agent resulted in a competitive field of bidders and a successful auction of this iconic property,” a Sotheby’s Concierge Auctions spokesperson told Behind The Hedges at the time.

While the spokesperson did not reveal the number of bids the property ultimately received, Sotheby’s said early on in the process the website listing was viewed more than 35,000 times and there were eight registered bidders.

Originally, the house was supposed to be auctioned in early December, but the seller elected to remove it, before putting it quickly back on.

Email tvecsey@danspapers.com with further comments, questions or tips. Follow Behind The Hedges on Twitter, Instagram and Facebook.