Big news this week: several well-known properties are in contract, and a stunning Sag Harbor house goes into contract just a few weeks after listing.
First up is Water Mill Village, the long-aborning effort to turn 6.4 acres of land, immediately east of the Water Mill Shoppes on Montauk Highway, into a townhouse development. The $30 million property, with intact development rights, is in contract. Jason Schommer at Corcoran has the listing.
Since 1986 or so, the land has had various planned uses, including a supermarket, but Water Mill residents preferred the idea of residential development. The planned development district (PDD) was finally approved last year; the complex is to include 38 townhouse units, a clubhouse, pool and sewage treatment plant. Four of the 38 units will be reserved for affordable housing. Now the original developers (an LLC) are selling to someone who’ll go ahead and finish the project.
Next up is 26 West End Avenue, East Hampton. Yes–you remember correctly, it’s an empty lot that used to be part of the property belonging to Courtney Sale Ross. She sold it to David Geffen for about $52 million in 2014. But then Geffen purchased a $70 million oceanfront property on Lily Pond Lane, and put the Cody House property back on the market. In 2016, developers purchased the property and subdivided it. 26 West End closed for $18 million.
This parcel was then listed for $23.5 million, where it lingered for a while; the last ask was $19.9 million and it’s now in contract. According to the Bespoke listing, the property is “capable of yielding a 7,194 SF+/- principal dwelling plus a finished lower level,” as well as “a custom pool, dock, and a 1,314 SF+/- pool house or accessory structure.” There’s 1.64 acres of land, 200 feet of Georgica Pond frontage, and ocean views.
Finally, we’re not a bit surprised that 23 Suffolk Street, Sag Harbor, is in contract after just four weeks on the market, even asking $8.995 million. Listed with Matthew Breitenbach and Beth Felsen of Compass, the house and plot are unusually large for Sag Harbor Village, at 6,200 square feet and 0.4 of an acre. That good sized plot allows for a fifty foot gunite pool, possibly unique in the village! There are 5 bedrooms and 4.5 baths, and other notable rooms include a library, huge kitchen, and a finished lower level with gym, wine cellar, laundry, and media room. Every inch of the place is freshly updated. Congrats to all involved.
