Kelly Klein Purchases $16 Million Cottage on North Haven

Kelly Klein, the photographer and the ex-wife of the designer Calvin Klein, purchased a waterfront parcel on North Haven with a small fishing cottage on it, for $15.9 million.

The 1.69-acre property at 31 Cedar Avenue, once owned by former Vermont Governor Howard Dean’s in-laws, Dr. Herman Steinberg and Dr. Ethel Bookhalter Steinberg, offers 250 feet of footage on the Sag Harbor Bay with a deep water dock. The last ask was $16.5 million.

David Cox of Compass, the listing agent, declined to comment.

Klein, who has long lived on West End Road in East Hampton, posted a photo on Instagram late last month showing she was enjoying her new waterfront retreat. “Love my new project! Bayside living ! Can’t wait to show you when I’m done ! #livingonthedockofthebay”

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A post shared by Kelly Klein (@kellyaklein)

“A true boater’s paradise, this prime waterfront lot offers an unrivaled Hamptons lifestyle,” the listing said. “Wake up to infinite vistas of open sky and shimmering water with nothing but untouched Mashomack Preserve in the distance. Step out onto the dock and enjoy everything that the North and South Forks have to offer, with the Shelter Island Sound as your playground.”

The deep water dock on the property.Courtesy of Compass

The existing 600-square-foot, two-bedroom, one-bath cottage will surely be torn down soon to make way for the type of house the property commands.

There is a 10,000-square-foot building envelope and proposed plans in place for an eight-bedroom, two-story residence with a 1,000-square-foot accessory structure and a pool deck.

Neighbors heard Klein was the buyer and were not surprised by the purchase price, even though the house is a tear-down.

Nearby, 24 and 20 Forest Road sold, in separate transactions to the same buyer this spring, for a combined $18 million. With a total of three acres and 500 feet of frontage, the new owner could build a 10,000-square-foot home based on renderings already completed by Blaze Makoid Architecture, according to Gary DePersia’s previous listing at Corcoran.

A 3.11-acre waterfront estate at 60 Forest Road is listed for $18 million with Marilyn Clark and Ginger Thoerner of the ClarkThoerner team at Sotheby’s International Realty. The existing five-bedroom home can be expanded and updated to create a 15,000-square-foot dream home with a 2,250-square-foot accessory structure and waterside pool, according to the listing.

Records show a limited liability company, with David Jannetti at the helm, according to tax records, purchased 31 Cedar Avenue, then a 1.1-acre parcel, in June of 2014 for $5.4 million. The seller was listed as the H. Steinberg Trust.

At the same time, the E. Steinberg Trust sold an adjacent vacant parcel at 29 Cedar Avenue to a separate limited liability company for $2.8 million.

Those two properties appear to have been combined into one and Jannetti built the dock and renovated the cottage, which was originally built in 1974.

A rendering of a proposed house for 31 Cedar Avenue on North Haven.Courtesy of Compass

Located on the south side of the Village of North Haven, the property is just minutes from the South Ferry and a short drive to Sag Harbor Village, making it one of the most coveted locations on the East End.

There is still an adjacent .4-acre lot for sale at 27 Cedar Avenue for $2.95 million. Jannetti also appears to own that property.

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