This property has been controversial from the start. It is located in Sag Harbor Hills, a community founded in the 1950s, along with neighbors Azurest and Ninevah, for middle class African Americans to summer. But as prices in the rest of the Hamptons (and Sag Harbor) soar, small, half-century-old, ranch homes on modest parcels are increasingly give way to bulkier, taller houses on combined lots. Longtime residents feel that the neighborhoods are losing their identities, values, and traditions. Younger generations, inheriting property from parents and grandparents, face a dilemma about whether or not to sell.
This is one of those larger, expensive houses on a combined lot. In 2016, more than a dozen local residents complained to the Board of Historic Preservation and Architectural Review about the project, which is on a merged bayfront parcel and features a 6760 square foot house with pool and cabana. The property at the time was going to be built for the president of BlackRock, the world’s largest investment management firm, Robert Kapito and wife Ellen, but is now for sale. Architect Peter Cook told Behind the Hedges, “This and an adjacent property were purchased by them in the hopes of building a home for their family, but they could not build a house large enough to accommodate their expanding family. So rather than combine the properties for one home, they kept them separate and are developing them for resale.” (The other property is 2 Harding Terrace, which is available for $5.25 million.)
This property, repped by Justin Agnello, Erica Grossman, and Hara Kang at Elliman, is asking $12 million, significantly higher than any other property for sale in the area. It is undoubtedly gorgeous inside and out, with high end finishes and views of the bay from many rooms, and terraces to make the most of the view. We love the style of the house, which combines the best of modern and traditional. Set on 0.8 of an acre, the house boasts 7 beds, 7 baths, and 5 half baths. It also includes a home theater and a wine cellar.
So the $12 million question is, will anyone pay that much in this location? Stay tuned.
For more, click here. 110 Hillside Drive East, Sag Harbor