Last week, a nearly five-acre pond-front compound in Bridgehampton sold quietly for approximately $45 million in an off-market transaction.
This marks the most expensive single trade on Sagaponack Pond in Hamptons’ history, according to an Instagram post on Hedgerow Exclusive Properties, which brokered the deal for the Meadowlark Lane property with Christopher Covert of Compass.
A request for comment was not returned.
The Wall Street Journal, which was the first to report the sale, identified the seller as noted divorce lawyer Irving Shafran, who built a nearly 7,500-square-foot main house there, along with a tennis court and pool.
The six-bedroom house is situated on 4.1 acres, records show. approximately 4 acres with an adjacent, roughly 1-acre buildable lot. A neighboring lot of just under one acre in size was also part of the deal.
While the real estate market overall has slowed down a bit since the historic highs of the COVID-19 pandemic, the ultra-luxury market has seemingly been booming.
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The biggest trade so far in 2022 is the $84.5 million sale of the 8.5-acre estate on Lily Pond Lane in East Hampton that belonged to Ron Perelman.
The sale of two properties on Tyson Lane in Amagansett, owned by designer Helmut Lang, sold for a combined $67.5 million in March.
The Linden Estate in Southampton Village, one of the most expensive properties on the market in the Hamptons last listed at nearly $70 million, is now in contract.
Closer to Bridgehampton, an oceanfront home on three acres at 7 Fairfield Pond Lane in Sagaponack that sold for $50 million in January.
Two Sagaponack parcels, including one on the ocean and vacant property to the north, went into contract in March before even officially going to market, ultimately closing at a total of $46.5 million in May. Covert and Hedgerow were also behind that deal.
Several properties have also recently been listed at high numbers. There is the property that Mariah Carey recently luxuriated in at 954 Noyac Path, which is on the market for $20 million as is, or with a to-be-built ultra-luxurious modern home for $50 million.
Bespoke recently brought to market a Water Mill waterfront compound totaling almost 13 acres that are listed at $64,995,000.
Covert also just listed a turnkey, oceanfront home at 1730 Meadow Lane in Southampton Village with double-dune protection from the sea for $46 million.