An East Hampton Village estate home along the Atlantic Ocean with a last ask of $39 million has found a buyer. It is one of the biggest trades of the year.
Behind The Hedges confirmed the property at 33 Lily Pond Lane, which boasts 171 feet of ocean frontage, is under contract and is expected to close soon. The Atlantic Team at Douglas Elliman — Justin Agnello, Hara Kang and James Keogh — represented both the buyer and seller on this deal. The property was co-listed with Erica Grossman and Hedgerow Exclusive Properties.
“We are honored to have represented this extraordinary oceanfront property and thrilled to have also brought the buyer to the deal,” says Agnello. “What makes 33 Lily Pond Lane so exceptional is its rare proximity to the ocean — just steps from the sand, yet fully protected by the dune. “The 1.8-acre estate is unmatched, offering a guest house, pool, and tennis court, all framed by unobstructed Atlantic views and 171 feet of pristine private frontage. It is the ultimate oceanfront oasis, and we’re excited to see the new owner bring a fresh vision to such a remarkable setting. It was also a special experience to co-list this property with our Douglas Elliman colleague Erica Grossman and a wonderful opportunity to work together.”
Situated high on a double dune, the cedar-shingled main home enjoys unobstructed views of the water. Recently renovated, the main residence measures 6,935 square feet and the current footprint can be expanded up to 10,653 square feet with approvals already in place.
Keogh told Hedges in 2024 that having a house so close to the ocean, while also protected by the dune, made the property particularly special. Plus, he said, “The ability to have a guest house, pool, and a tennis court in such close proximity to the ocean is unmatched.”
The tennis court/basketball court, designed by the team that also designed the courts at Arthur Ashe Stadium in Forest Hills, was one of the last to be allowed to have lighting before East Hampton Village changed the rule.
“There is so much great potential to still be found here, as there are plans in place to expand the current house to have four more ocean-view bedrooms, which is very special,” Kang said last year, noting the possibility of increasing the bedroom count to 10, as well as upping the bathroom count from seven to 13. Arkadiusz Piegdon of Lynne Breslin Architects, based in Brooklyn, had developed the expansion plans for Lily Pond Estate.
The 2,091-square-foot guest house, last renovated in 2022, provides a space not only for weekend visitors but also an entertainment space with a billiard room, as well as a steam shower and sauna for a bit of respite.
The heated gunite pool is tucked away between the main house and the guest house, affording the ultimate privacy.
The property first went on the market in 2021 for $55 million and was lowered to $49.5 million in 2022. A year later, the price was reduced to $44,500,000, and lastly, in 2025, to $39.5 million.
So far in 2025, the biggest trade remains the February transactions for a seven-acre spread in Amagansett, totaling $70 million. Frank E. Newbold of Sotheby’s International Realty had the listing for 372 and 370 Further Lane, while Paul Brennan and Martha Gundersen at Douglas Elliman brought the buyer.
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