A nearly 10-acre, oceanfront property on Meadow Lane in Southampton Village, the largest in that area, sold for $40 million in January, according to Suffolk County deed transfers available this week.
The property at 1320 Meadow Lane went into contract at the end of the year, as reported by Behind The Hedges in December. However, the exact figure it sold for was not released by Bespoke Real Estate, which had a co-exclusive with Tim Davis of The Corcoran Group. Bespoke also repped the buyers.
Records show the property transferred from Meadowcore LLC, linked to billionaire hedge fund manager Thomas E. Sandell, to Samudra Farms LLC on Jan. 22, 2025, making it the highest sale on record so far for 2025 — though we know of one higher that has already closed, but could not be confirmed so far.
The Meadow Lane property sold for $9.5 million under the last asking price of $49.5 million — all of which was a far cry from its original asking price of $85 million.
The property boasts 550 feet of ocean frontage with a partially built mega mansion on it, a project which had been abandoned in 2018, and a blight on the area known as Billionaires’ Row ever since.
The property, which includes deeded access to Shinnecock Bay, does offer a truly one-of-a-kind opportunity that allows for several development options in an area zoned for two-acre parcels.
The new owner 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.
Though the exact identity of the new owner is unclear, Samudra Farms LLC also owns a contemporary-style oceanfront home in Sagaponack, which was purchased in 2022 for $50 million in an off-market deal. The three-acre property at 7 Fairfield Pond Lane was also repped by Bespoke Real Estate.
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. 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.
