Record-breaking Deals Abound in Southampton

136 Bishops Lane, Southampton
The home at 136 Bishops Lane in Southampton Village set a record for the street when it closed in September 2021, according to Compass.
Courtesy of Compass

The $105 million sale of the Jule Pond property was indeed one for the record books in the Hamptons, but there are some other record-breaking deals of note in the Southampton area.

A relatively new property at 136 Bishops Lane in Southampton Village with all the bells and whistles sold last week for $8,157,500, more than doubling the nearest new construction comp, according to Matthew Breitenbach of Compass. He also recently closed a deal for a waterfront property on the northside of Southampton for about $1 million more than the highest trade in the neighborhood.

While 136 Bishops Lane came in below the $8.995 million asking price, it still easily set a record for the village street, between South Magee Street and Moses Lane. Breitenbach says the nearest new construction comp sold for $4 million.

Why such a staggering difference? Breitenbach says the answer is simple: Josh Guberman of Core Development Group “builds an amazing house,” and there was a pre-existing tennis court on the lot when Breitenbach sold it to him for $2.8 million in 2015, records show. Guberman also has a unique style that Breitenbach calls “traditional with an edge.”

“It has a coolness factor. He loves big moldings and then you’ll wall by a Banksy piece in the foyer,” Breitenbach says. “He doesn’t regurgitate the same Hamptons house, I think that’s why.”

The more than 8,000-square-foot house sits on just over an acre. There are eight bedrooms, nine full bathrooms and two half-baths. There are details throughout, such as wide-plank white oak floors, millwork and designer lighting from the double-height foyer to the bedrooms. The great room, which features a coffered ceiling and a wall of glass, including doors that open to an oversized bluestone patio.

Mala Sander of Corcoran, who brought the buyer, agrees. “There was nothing else like it,” she says, pointing to the size of the house, the Har-Tru hydro tennis court, the 20-foot-by-50-foot gunite saline pool, six-jet spa, the pool house with even more living space and the outdoor living space with the pergola over the gas fire pit area. Her buyers looked all over Southampton, she adds. Brand new houses with the same amenities were going in the $12 million range, she explains.

Lavish lower levels are also Guberman’s signature. In fact, the home was featured in The New York Times because of the impressive light-filled lower level that has a large walk-out patio and plenty of space, a media room, a glass-enclosed fitness room and a temperature-controlled wine room, among other amenities.

The theater room on the lower level of 136 Bishops Lane.Courtesy of Compass

“I’ve broken records with Josh wherever he goes,” Breitenbach says. He pointed to 94 Day Lily Lane, sold for approximately $9.4 million in 2015, which he says “set off a new wave in north-of-the-highway development” in Bridgehampton. A home on Pheasant Close in Southampton, went for $9 million, as well, with the previous record being a $6 million Farrell house.

While the sale of 136 Bishops Lane happened at the beginning of the fourth quarter, it is worth noting that the third quarter real estate report shows Southampton Village’s median home sales price steeply rose. In Southampton Village, the median home sales price went up 110% in the third quarter, according to the market report from Judi Desiderio of Town & Country Real Estate. The village has the highest median home sales price for the third quarter as it more than doubled from $2,437,500 to $5,125,000.

Another record-breaker is 88 Cold Spring Point Road in Southampton, a waterfront quarter-acre property that officially closed at $2.95 million in late September. The last ask for the fully renovated four-bedroom, three-and-a-half-bathroom home was $3.195 million. Samuel Whelan Kelly from Bespoke brought in the buyer.

Courtesy of Compass

Prior to this sale, the highest sold comp in the neighborhood was under $2 million, according to Breitenbach.

The neighborhood is located on a peninsula north side of Cold Spring Pond and south of the Peconic Bay, minutes to some of the best golf courses in the country — Sebonack Golf Club, Shinnecock Hills Golf Club and National Golf Links of America.

“It’s a cool little area. It feels very beachy,” he says, adding that the bay is across the street and the inlet comes in behind the neighborhood. The property offers a private dock and the 2,410-square-foot home has northwestern bay views to the inlet and a pond on the southeastern exposure.

The interior features high-end touches such as wide-plank white oak floors, designer lighting, shiplap detailing, sleek cabinetry and open shelving in the kitchen, where there are Thermador stainless steel appliances.
“I almost couldn’t comp it,” Breitenbach says. “It was a well-done renovation, and I had to look at other waterfront deals outside of the nook.”
Meanwhile, Southampton area, which includes North Sea and this particular neighborhood, sold 50% fewer homes in the third quarter, yet the median home sales price rocketed up 74%, Town & Country’s report said. This is “all due to fewer sales under $1M and more over $3.5M,” Desiderio says.

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