A contemporary-style oceanfront home in Sagaponack sold last month for $50 million in an off market deal — the second biggest sale so far this year.
Suffolk County deed transfers show that 7 Fairfield Pond Lane, a three-acre property between the Atlantic Ocean and Fairfield Pond, traded on January 20. Records show Sembro LLC, which has owned the property since 2006, sold to Samudra Farms LLC, which was formed in September 2021.
Bespoke Real Estate represented both the buyer and seller.
The property had been listed with Susan Breitenbach of the Corcoran Group in the past six years. It was once the priciest ocean real estate, asking $60 million at one time, then $54 million in 2015. Breitenbach declined to comment.
Ron Perelman, the embattled chairman and chief executive of MacAndrews & Forbes, which most notably oversees Revlon, sold his East Hampton estate on Lily Pond Lane for $84.5 million on January 6.
Sagaponack Home’s Design
The approximately 10,000-square-foot linear-form house was designed by Bates + Masi Architects.
“Utilizing a design process of subtraction rather than addition, the structure was envisaged as carving away at the solid mass of the house to reconnect site features and views and to distill the experience of the place,” according to the Pinnacle List, which wrote about the home in 2015, based on the architects’ description. “The design strategy was to accommodate the extensive volumes of the house by nesting spaces within one another with operable partitions that pull out from the walls allowing rooms to merge or be separate.”
The home features a two-story foyer, a dining room horizontal slats for wine storage and walls of glass doors that peel back to reveal the ocean view. The home offers nine bedrooms and 10.5 bathrooms and a rooftop deck with a kitchen and a spa. There is also a swimming pool and a tennis court.
“The plinth of the elevated house is carved into a series of stepped planters that are further sculpted into the entry steps, mediating the different grades required by flood control regulations,” the Pinnacle List article continues. “Besides dictating the minimum first floor height, regulations also set the roof height. To maximize the ceiling heights within those limits, the house utilizes a steel moment frame to pare down the thicknesses of the floors and roof to the absolute minimum resulting in a modern residence that can be considered a masterpiece of architecture.”
Records show Sembro LLC purchased the property in 2006 for $18.5 million from Gordon McMahon, the CEO of a company that specializes in environmentally friendly plant food.
While it is still early in 2022, the $50 million sale will surely remain among the highest real estate trades for the year.
Last year’s most expensive real estate sale was a $118.5 million compound with two massive homes on Mecox Bay in Water Mill and the most expensive single parcel sale was the $105 million trade on Julie Pond, which includes three sides of waterfront. A full list can be found here.