There was a kerfuffle a few weeks ago regarding a pocket listing of oceanfront East Hampton property belonging to fashion designer Helmut Lang, which could, as headlines alleged, “realize $100 million.” The problem was that no one knew who was marketing the listing, and some of the rumors turned out to be false. To add to the confusion, in actuality three separate parcels belong to Lang.
Well, we now have the scoop. According to our source, Jane Gill of Saunders is (very quietly) marketing two of the parcels on Tyson Lane belonging to Lang, but not the third one, with the 8,700 square foot main house, because Lang hasn’t been able to find another property he wants to buy. (At least that’s what our source says.)
Lang purchased 6, 8, and 10 Tyson Lane in 1999 for $15.5 million, reportedly outbidding Jerry Seinfeld for the property. The property is oceanfront, although strictly speaking, there are 8 acres of dunes in front of the parcels that belong to the Nature Conservancy.
8 Tyson Lane is 1.1 acre, with Lang’s main house on it, and isn’t for sale until Lang finds somewhere else he loves.
6 Tyson Lane is a vacant flag lot, 0.84 of an acre, that is behind 8 Tyson and therefore not oceanfront. According to our source, the price being asked for that parcel is $15 million.
10 Tyson Lane is where things get interesting. This is 1.6 acres, oceanfront, with three outbuildings on it, including a guest house and a garage. The ask for this parcel is $50 million.
So to wrap up: the rumors about $100 million were actually true, if Lang could be persuaded to sell all three parcels.
Are the prices being asked worth it? We’d say definitely yes. Land like this is at an absolute premium, there are untold possibilities here, and this is the best location possible in the Hamptons.
