An oceanfront estate on East Hampton’s famed Further Lane officially sold on Thursday for over ask at $55 million, in one of the priciest deals of 2021.
The four-acre property at 442 Further Lane closed at $55 million — $2.5 million above the last asking price.
Hedgerow Exclusive Properties represented the seller. Catherine Juracich of Douglas Elliman Real Estate brought the buyer. Both brokerages declined to comment.
No word yet on who the new owners are, but they jumped on the opportunity. The home went into contract in less than 30 days.
It’s easy to understand why. The pristine property includes 400 linear feet of ocean frontage and the custom two-story 6,100-square-foot home was designed by the late architect Francis Fleetwood, best known in the Hamptons for his traditional cedar shingle-shingle designs.
“Immaculately designed, the five-bedroom home captures natural light and ocean views through large-paned windows. The connectivity throughout the main level invokes an intimate, endearing ambiance while the estate strikes an ideal balance for entertaining, with spaces and amenities suitable for all aspects of entertainment,” the listing said.
The primary suite can be found in a separate wing on the first floor and includes “his and hers ensuite bathrooms,” a walk-in closet, a sundeck and an adjacent office space.
There are a total of five bedrooms and seven bathrooms. The second-floor bedrooms also boast ocean views and access to multiple sundecks.
There is a gunite pool and spa surrounded by mature landscaping and nearby beach access.
The sale of 442 Further Lane is among the most expensive to close this year. Jule Pond in Southampton closed for $105 million in October. The biggest sale in East Hampton so far is Calvin Klein’s oceanfront estate on West End Road for a total of $85 million.
Last month, 840 Meadow Lane in Southampton, an 8.3-acre property with “a 30-room fairytale Tudor mansion,” sold for $70 million.
Earlier this year, neighboring East Hampton properties off of East Hampton’s Further Lane sold for approximately $60 million each. In an off-market transaction, also done by Hedgerow, billionaire investor James Chanos, sold his three-acre property at 70 Further Lane for $59.5 million on February 5, according to the deed transfers. The 7.7-acre property next door at 30 Spaeth Lane, originally listed for $72 million, sold for $60 million on March 15.
Another top sale so far this year was that of Burnt Point, a 25,000-square-foot estate on 25 secluded acres on Georgica Pond that closed at $47 million in April. Billionaire former pharmaceuticals entrepreneur Stewart Rahr, who bought the property in 2005 for $39.25 million, was asking $56 million. Bespoke, which also represented the listing, says it was the highest price for non-ocean waterfront.
An oceanfront property in Wainscott also just closed for $45 million.