Behind The Hedges 08.12.2019 05:26 6.7 Acres of Oceanfront in East Hampton Village Lists for $60 Million

6.7 Acres of Oceanfront in East Hampton Village Lists for $60 Million

July 24, 2019 By Laura Euler

Time for another blockbuster listing in the Hamptons! This time, it's a generously sized property, in two separate parcels, in the very quietest part of East Hampton's oceanfront. "Stand on the oceanside terrace, and you do not see another house," says Frank Newbold, who is listing the property with his Sotheby's colleague Valerie H. Smith. "It's about a mile in each direction to public access to the beach. So it's always very quiet." Windmill Lane is a private street off Further Lane, ensuring privacy.

Two separate parcels (5.4 acres on the ocean, 1.3 inland) is also a wonderful thing for a property to offer, because it means a new owner can build a guest house legally. "People always ask if they build a guest house, but usually under village rules, the answer is no. Here, you can build about a 6,000 square foot guest house," comments Newbold.

To be sure, there is already a guest house on the property, as well as, of course, a 5,500 square foot main house built in 1989. Realistically, though, buyers at the $60 million level usually want to build their own place, and the 5.4 acre main parcel, which includes 300 feet of oceanfront, would allow for a 12,500 square foot new house under current zoning. A new survey that a buyer could add a 60-foot pool on the ocean side. "This house has had a nice refresh about a year ago and it feels very light, open, and beachy with a lot of white," Newbold says. "You could easily live in it while you make your plans, or live in it forever. It's very solidly built."

The property is being sold by the estate of James Evans, the former CEO of Union Pacific Railway. He was also one of the first organizers and president of the Central Park Conservancy.

While, of course, $60 million is still a great deal of money, Newbold says he thinks the property is priced fairly based on comps, and, after all, there isn't much for sale on the ocean in East Hampton. He says despite being a completely new listing, he's already received some serious inquiries.

For more, click here. 32 Windmill Lane, East Hampton

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