An off-market sale on the ultra-exclusive Further Lane in East Hampton at the end of last year came to light recently when the buyer demolished the 100-year-old residence to make way for a new house.
Nick Capstick-Dale, one of the UK’s largest private developer and landlords, and his wife, Laura, scooped up the 1.18-acre property abutting the famed Maidstone Golf Club and Hook Pond for $12 million back on Nov. 8, 2024.
Paul Brennan and Martha Gundersen, who also recently closed on a Further Lane sale on the ocean for $70 million, very quietly represented both sides of the deal.
Capstick-Dale, who lives in London, is listed on The Sunday Times Rich List 2024 at £465 million, which is approximately $605 million. He has owned a home on Egypt Lane since 2009, but, with three small children, he had been looking for a larger summer house in the Old Beach Lane/Highway Behind the Pond, an area that tends to be generational and rarely come up for sale. According to a statement, he chose not to purchase on the ocean.
“This off-market sale was an extraordinary one in the way things aligned. It’s probably one of our best deals,” Brennan said in a statement. “Martha has a great relationship with the homeowner and over time helped her to realize the great opportunity in the market. Through our global connections, we were fortunate enough to also bring the right buyer along at the right time – an international buyer, who has long rented in the Hamptons and now hopes to come and live here, with plans to rebuild a new home in this incredible location.”
Gundersen touted the views over the golf club and and “awe-inspiring sunsets” over Hook Pond. “It was truly a rare opportunity. Not many houses have sold or changed hands in this area, so this sale was a major coup,” she added.
Built in the late 20th century, and snspired by the English Arts-and-Crafts house, “Furthermore,” was demolished last month, leaving neighboring surprised, according to The New York Post.
With the 6,000-square-foot, five-bedroom, four-bath house gone, Ben Krupinski Builders has begun construction on a new 11,000-square-foot home last week. The intention is to build “a graceful traditional home that blended into the landscape,” according to the statement.
Brennan assured The Post, “the ending will be stunning.”
The seller was the Mary Kay Jaroff Trust. The home had been owned by Leon Jaroff, a senior editor at Time magazine and founder of Discovermagazine, and his wife, Mary Kay, since 1991 after the couple moved from Atlantic Avenue in Amagansett, according to his 2012 obituary in The East Hampton Star.
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