The listing agents call it “a once-in-generations opportunity to own an East Hampton icon.” They just might be right.
The grand, Shingle Style “summer cottage,” located at 1 Lily Pond Lane, at the corner of Ocean Avenue, the crossroads of the most prestigious streets in the village, has come to market for $25 million, listed with Ed Petrie and James Petrie of Compass.
With three stories that allow for panoramic views of Hook Pond across the street to the Atlantic Ocean, the house was built in 1905, a design of the renowned architect Joseph Greenleaf Thorp.
“While researching articles about the property, one line stood out in particular from Architect of Summer that captures the importance of 1 Lily Pond Lane,” James Petrie says. “Other architects would design dune-sited cottages, but by the second decade of the 20th century, the quintessential image of East Hampton resort architecture was already set by the sophisticated work of J. Greenleaf Thorp.”
He was also the architect behind the infamous Grey Gardens home, as well as the Georica Road home the designer Calvin Klein sold in 2021 for $85 million, both in the village. He also remodeled the historic home that the actor Alec Baldwin now calls home in Amagansett, also on the market.
The 7,500-square-foot home is known as the second Frederick G. Potter House, with the first, also designed by Thorp, being located at 19 Lee Avenue in East Hampton, which was once owned by the actor Chevy Chase.
Potter and his brother, E. Clifford Potter, were real estate developers who built apartment houses on New York City’s Park Avenue, as well as office buildings and theaters, such as the Winter Garden Theater. They were among the Summer Colony residents in East Hampton since the 1880s and they hired Thorp to design their own summer cottages along Ocean Avenue. The EC Potter House, as it is known, is across the street from 1 Lily Pond Lane and is currently owned by rocker Jon Bon Jovi.
Records show that Daniel Rose, a real estate developer, and the late Joanna Rose, a philanthropist and a well-known art collector, according to her obituary in The East Hampton Star, owned the home at 1 Lily Pond Lane for nearly half a century. They later purchased adjacent property, creating a family compound.
The main level “features an array of spacious rooms, each with unique charm: a welcoming foyer and sunroom, a private study, two comfortable living areas, a formal dining room, a well-appointed kitchen and an intimate second dining area,” according to the listing.
There are seven bedrooms and six bathrooms on the second floor, including a primary suite with dual bathrooms for privacy.
Up on the third floor, there are seven more bedrooms — yes, you read that right — and two bathrooms.
The house features several porches around the first and second floors, perfect for lounging with views and sounds of the ocean.
A large brick patio can be found just outside the kitchen, surrounded by gardens and “ancient perimeter trees,” and ideal for summer dining.
The expansive grounds include an elevated pool area and rolling lawns. There is also a pool house.
“The Frederick G. Potter House is more than a home; it’s a cherished testament to East Hampton’s enduring heritage. Embrace the past and secure your future with this exceptional estate,” the listing concludes.
[Listing: 1 Lily Pond Lane, East Hampton | Agents: Ed Petrie and James Petrie, Compass] GMAP
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