Top Stories of the Week: New England Patriots Owner Buys in Southampton, Cannabis Company Finds New Home on North Fork

Robert Kraft, inset, is reportedly the buyer of 40 Meadow Lane in Southampton.
©PATRICKMCMULLAN/Taylor K. Vecsey

The mystery buyer of a $43 million home on Meadow Lane in Southampton is New England Patriots owner Robert Kraft, according to The Wall Street Journal.

Kraft reportedly bought the oceanfront house at 40 Meadow Lane, on what is known as Billionaire’s Row in the village, in the off-market trade Behind The Hedges told you about last week.

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Cannabis Company Making $42.5M Land Deal on North Fork

A fast-growing cannabis company has purchased a 34-acre property in Jamesport for a $42.5 million from Van de Wetering Greenhouses in one of the largest purchases in the burgeoning industry. It is the first known marijuana-related real estate buy on the East End since New York State legalized adult-use cannabis in March. 

Columbia Care Inc., which already operates a medical cannabis dispensary in Riverhead, has plans for a cultivation site at 5784 Sound Avenue with the first harvest and sales for the state’s medical marijuana program expected later this year.

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Market Update: The Hamptons Real Estate Shift, Part 3

This is the final in  a three part series on The Hamptons Real Estate Shift.

Today’s buyers are increasingly committed to being in the Hamptons long term. While the desire to purchase is still strong, as discussed in The Hamptons Real Estate Shift, Part 1, these buyers have re-envisioned how they want to use their homes and, as we saw in The Hamptons Real Estate Shift, Part 2, not only have adjusted their searches accordingly, but also their bids and approach to negotiation as a result. Meanwhile, listing supply has been decreasing.

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Craftsman-style Home on Shinnecock Bay in East Quogue Lists for Just Under $3.5 Million

A striking two-story craftsman-style home on the water in East Quogue offers an elegantly-appointed seaside retreat. The home at 3 Shinnecock Road in East Quogue is newly listed with Douglas Elliman Real Estate at $3.499 million.

A sloped roofline, a square turret and a covered front porch make this 3,150-square-foot home, built in 2012, standout from others in Shinnecock Shores. A wide stone driveway leads up the house with a staircase leading to the front door due to the elevation of the home, which allows for magnificent water views.

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Stylish Condo in Sag Harbor With Resort-Style Amenities Available for $2.75M

Enjoy resort-style amenities and harbor views, but without the upkeep costs and energy that come with a house in the Hamptons. A luxurious two-bedroom corner unit inside the Harbor’s Edge condominium, located at 21 West Water Street in Sag Harbor Village, is available for $2.75 million.

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