The lovely house and beautiful property with the lousy location–Villa Maria in Water Mill–has finally clicked into contract. Villa Maria’s last asking price was $72 million, represented by Bespoke, though we don’t believe for a second that’s what anyone is paying.
The beautiful c. 1919 estate includes 15 acres on Mecox Bay. There are ocean views from the 20,000 square foot principal residence; there’s also a gatehouse, guest house, carriage house, tennis and pool. The house used to be a retreat for nuns. It was purchased back in 2005 by Nine West founder Vince Camuto and wife for $35 million. Then the Camutos put the house and the 15-acre spread through six years of total renovation. It has been on and off the market for years now; originally asking $100 million (a price “open to discussion”) back in 2008. Other asking prices have been $85 million, or $67 million, or $50 million with only seven acres included, all with different agents and agencies.
The problem of course is that the estate is right on Montauk Highway in the spot with the worst traffic in the Hamptons. For the kind of money asked for the property, a buyer could get oceanfront. It was going to take a special buyer to fall in love and fork out with the cash, so of course it took a long time.
It was a tough sale, so kudos to Bespoke Real Estate for pulling it off.
For more, click here. 615 Montauk Highway, Water Mill