How much will it take to get land on the ocean in the Hamptons nowadays?
The answer: $20 million.
The vacant property at 1115 Flying Point Road in Water Mill sold for that figure last year, according to Suffolk County deed transfers recently available.
“This 2.4-acre oceanfront land achieved a very respectable price because of location and limited supply,” says listing agent Peter Turino of Brown Harris Stevens.
There are 182 feet of ocean frontage, as well as dramatic Mecox Bay views.
For comparison sake: Two oceanfront acres with a 5,200-square-foot house and 250 feet of direct ocean frontage in Sagaponack sold for $34.5 million in 2022. The house at 35 Potato Road sold along with a vacant property to the north, which traded at $12 million.
There is no house on the property and there are no plans already in place. There is a pre-existing cabana with storage and a changing room and decking.
It was only the second time the property traded in 75 years.
“In the same ownership for decades, this is a one-time opportunity to acquire a flawless oceanfront building site on beautiful Flying Point Road,” the listing description read.
Turino listed the property for $24 million on June 22, 2022, and a contract was entered into by September 30 with a last ask of $22 million. The transaction was completed on November 3.
Cathy Franklin of the Corcoran Group brought the buyer.
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