The largest property on Meadow Lane in Southampton Village, encompassing nearly 10 acres with 550 feet of ocean frontage with a partially built mega mansion on it, has found a buyer. The last asking price was $49.5 million.
Bespoke Real Estate announced last week that 1320 Meadow Lane was under contract. Once listed at $85 million, 1320 Meadow Lane has been on the market since construction was abandoned in 2018.
The firm, which repped both sides of the deal and had the co-exclusive with Tim Davis of the Corcoran Group, declined to comment further on whether it will close before the end of the year. No matter what the final sales price ends u being, it will be one of the priciest trades of 2024 or 2025.
The property, which includes deeded access to Shinnecock Bay, is truly a one-of-a-kind opportunity that allows for several development options in an area zoned for two-acre parcels.
The new owner(s) could build upon the existing structure, a Moroccan-inspired residence, where the current foundation could give way to a 17,980-square-foot main residence with 10 bedrooms, 10 full bathrooms, three half bathrooms and an attached three-car garage. Existing amenities include a private gated entry, a 75-by-20-foot infinity-edge pool and a tennis court with a pavilion.
Another option is to design and build new to create a custom compound with a main residence, a guest house, a pool, a spa, a tennis court and a bayside dock.
There are existing conceptual renderings that can be crafted to fit the new owner’s needs.
Located on what is known as Billionaires’ Row, 1320 Meadow Lane is just 1.4 miles from the Southampton helipad and approximately three miles to the village, the property boasts a prime location.
Records show the property was owned by Calliope Kulukundis, the widow of a Greek shipping magnate, until her death at the age of 102 in 2006. While it’s unclear exactly when the Kulukundis family sold the property following her death, 27East reported in 2018 that the building permit records linked Meadowcore LLC, the limited liability company still listed as its owner, to billionaire hedge fund manager Thomas E. Sandell, the founder of Sandell Asset Management Corp. According to Reuters in 2021, Sandell paid $105 million “in back taxes and damages to settle charges he defrauded New York state and New York City out of taxes on a decade’s worth of fees,” though he did not admit or deny wrongdoing.
Properties along Meadow Lane have been among the most expensive trades each year.
Mylestone at Meadow Lane, a rare double waterfront, eight-acre estate at 700 Meadow Lane that was originally listed for $175 million in 2021, sold for $112.5 million in 2023, also with Bespoke brokering the deal.
“A 30-room fairytale Tudor mansion” on an 8.3-acre property at 840 Meadow Lane sold for $70 million in 2021. Davis represented the listing.
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