Behind The Hedges 24.09.2018 14:07 2017: A Dud Year for Blockbuster Deals

2017: A Dud Year for Blockbuster Deals

February 20, 2018 By Laura Euler
top 10

In all the hoopla about high-profile sales in the Hamptons this year (Beyonce and Jay-Z! Lasata! Grey Gardens! Robert Downey Jr!) many failed to notice the dearth of blockbuster deals. The biggest sale of the year was $31 million for 328 Gin Lane, a house that originally debuted on the market in 2014, asking a whopping $39.5 million. That's the lowest number for the last ten years other than 2009, which followed the financial crisis. (That year's biggest sale was a measly $19 million for the Pink House, part of the old Wiborg estate.)

The biggest deal for the last ten years remains Barry Rosenstein's 2014 purchase of 62 Further Lane, East Hampton (plus two contiguous lots) for $137M. That means this year's largest sale is just 23 percent of the largest sale of 2014, and in fact the Gin Lane sale wouldn't have even made 2014's top ten.

Before that, the record price was Ron Baron's 2007 purchase of the de Menil property on Further Lane for $103 million.

2018's numbers will be different, of course, as Villa Maria has closed for $49 million, which would top the best prices for 2009 through 2012, and of course 2017.

Now, let's go over the top ten for last year. Interestingly, 7 out of 11 (with one tie) were in Southampton Village. Three were in East Hampton and one Sagaponack.

  1. $31,000,000

Number 1 for this year is 328 Gin Lane, Southampton, which sold on May 3. Estate of John F Poster to Gin Lane II LLC.

  1. $29,000,000

Number 2 is 211 Lily Pond Lane, East Hampton, which sold on August 29. Ironman Realty LLC to Eric & Lori Blatstein.

  1. $27,500,000

2017's number 3 is 210 Meadow Lane, Southampton. Mid Summer Dream Holdings LLC to Claudine & Glenn Nussdorf.

  1. $26,000,000

Number 4 for this year is 7 Olde Towne Lane, Southampton, which sold February 2. Old Towne Southampton Associates LLC to Oldetownehouse LLC.

  1. $25,925,500

In the middle at number 5 is 81 Briar Patch Road, East Hampton, which sold August 15. MMR Real Estate Holdings LLC to Briar 81 LLC. (Also known as Jay-Z and Beyonce.)

  1. $25,000,000

Number 6 is 32 Middle Lane, East Hampton, which sold April 4. Dune Park LLC to 32 Middle Lane LLC.

  1. $24,600,000

2017's number 7 is 1510 Meadow Lane, Southampton, which sold May 26. Lynne Pasculano to Never Squabble LLC.

  1. $24,000,000

Tied for number 8 for this year is 500 Captains Neck Lane, Southampton. Captains Neck LLC to Chickamapaugee LLC.

  1. $24,000,000

Also tied for number 8 is 101 Pheasant Lane, Southampton, which sold October 18. SH 2014 LLC to Caymus LLC.

  1. $22,150,000

At number 9 is 500 Old Town Road, Southampton , which sold March 3. 500 Old Town LLC to OTR Property LLC.

  1. $21,000,000

Rounding out the top 10 of 2017 is 675 Hedges Lane, Sagaponack , which sold September 15. 675 Hedges Lane LLC to HLP LLC.

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