Want to buy your own piece of the Hamptons? A parcel has come up for sale in tony south-of-the-highway Water Mill. It’s about 1.25 acres, but don’t call your architect to draw up plans yet, as the land varies from 40 to 75 feet wide. On the plus side, there are some lawns and trees included; on the minus side, your neighbors, all 18 of them, have easements over the property. Yep, Holly Lane, the street itself, is for sale.
So how did this happen? The land used to be originally owned by merchant financier Ancell Ball and his wife, Isabel Ball, who were Social Register types. (Also, Ancell Ball was a big name in the sport of cockfighting. Seriously.) In 1929, they sold their estate to Thomas Edison’s partner, Joe Murray, who later sold to a developer named Alfred Padula. Though the land has obviously been subdivided over the years, his heirs have held on to the private drive. They’ve listed the land with Paul Brennan at Douglas Elliman.
So why would anyone want to buy it who doesn’t already live on the street? Theoretically, since the property includes a bit of Mecox bayfront, anyone who owned it could use the waterfront instead of keeping it private. Obviously, though, realistically, the street is probably going to be sold to the 18 homeowners; the owners offered to buy the lane from the owner a few years ago but were turned down. Stay tuned.
For more, see here. Holly Lane, Water Mill