Further Lane Estate Trades at $57 Million, in Third Priciest Sale of 2020

290 Further Lane, East Hampton
The home at 290 Further Lane in East Hampton, as seen in 2016, when it was listed by Sotheby’s International Realty.
Courtesy of Sotheby’s International Realty

An oceanfront property on East Hampton’s prestigious Further Lane sold at the end of last year for slightly more than $57 million, real estate deed transfers showed this week. The transaction makes it the third biggest sale of 2020.

The 6.11-acre property at 290 Further Lane boasts a Francis Fleetwood house, and just sold in 2018 for $40 million ($29 million less than its original asking price two years earlier). The buyers at the time were repped by Bespoke Real Estate’s Cody and Zach Vichinsky, and Bespoke closed the deal for them this time, as well.

Through a spokesperson, Bespoke portfolio managers declined to comment on the sale.

Only two other deals came in above this $57 million trade in 2020. The property at 650 Meadow Lane in Southampton sold in March for $84.4 million, while 12 and 15 West Dune Road in East Hampton closed at $67 million.

An oceanfront home at 187 Dune Road in Bridgehampton sold in December for $50.15 million, but that was bumped to the fourth largest trade thanks to this deal.

The owners of 290 Further Lane capitalized on the investment in just two years. In 2016, the property went on the market for $69 million when the owner, James Marcus, a retired Goldman Sachs partner and the former board chairman of the Metropolitan Opera, passed away. It was reduced twice, before selling to an undisclosed party for $40 million in 2018.

We hear some extensive renovations were undertaken at the 10,000-square-foot house and the owners re-listed it at $68 million over the summer, according to the listing. It closed at $57.04 million on December 18, 2020.

No word on who the new owners are, as the transaction recorded only 290 East LP as the buyer. The seller was 910 SOB LLC.

Whoever the buyer is, there’s no shortage of reasons to have bought this property with 300 feet of ocean frontage with ocean views from every room, along with an oceanside pool, a rooftop deck, a full-size tennis court, and a private path over the dunes to the ocean, are yours to enjoy.

Originally designed by the renowned architect Francis Fleetwood in 1995, the seven-bedroom home “exemplifies classic Hamptons elegance with its premier-quality craftsmanship and beautiful modern design,” Bespoke’s listing said. “Fabulous fluidity exists, connecting indoor and outdoor spaces for seamless entertaining. Host lavish summer parties and enjoy blissful views that conjure up a feeling of a world all your own from the incredible 2,400 square feet of covered porches and porticos that virtually wrap around the home.”

The interiors were given a facelift with bright, open spaces. An oversized living room is grand, but cozy with a fireplace, fireside library and formal dining room. An all-white chef’s kitchen features Calcutta marble countertops, an island with seating, and professional stainless-steel Viking appliances. An open family room offers a fireplace and a breakfast room surrounded by windows looking out at the panoramic ocean views.

By the way, for anyone who is curious, property taxes on this beautiful piece of East Hampton Town real estate is $125,543 annually.

Further Lane was hot in December. While not in the same stratosphere as this $57 million sale, the property at 472 Further Lane, on the Amagansett side, sold on Christmas Eve for $8 million. Situated on 2.5 acres and just down the block from the ocean, the sellers had been hoping to fetch $9.25 million.

An 8,100-square foot house at 219 Further Lane in East Hampton Village also sold in December for $8.3 million. Located on two acres next to a 44-acre nature reserve, the property was originally listed for $12.5 million in 2017, and the price was reduced several times, most recently to $9.9 million.

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