Why 2015 Is Poised to Be the East End's Best Year Yet



Villa Maria, a Water Mill estate most recently owned by the late shoe titan Vince Camuto, is on the market for $69 million.

In nearly perfect real-estate-bubble timing, 2015 is poised to be the best year on the East End since before the 2008 crash. Real estate experts almost unanimously expect the total annual Hamptons sales volume to clock in higher than the $4.5 billion benchmark set last year, with parcels priced at $5 million and up as the driving force.

Leading the pack: education entrepreneur/publishing magnate Chris Whittle’s circa-1931 house on Georgica Pond, which is listed for $140 million, an expensive hair below the $147 million forked over last year by hedge funder Barry Rosenstein for the Further Lane estate of the late Andrew Gordon (the highest price ever paid for a home in America). Whittle’s property, featured in the September/October 2010 issue of HC&G and represented by Peter Turino of Brown Harris Stevens, includes a 10,300-square-foot, six-bedroom Georgian Revival–style residence and guesthouse, a pool and pool house, a sunken tennis court, and 1,156 feet of water frontage on Georgica Pond, all on 11.2 acres.

Other spreads in the $50-million-and-up club include Three Ponds Farm in Bridgehampton, listed with Sotheby’s Dana Trotter for $60 million; 285, 287, and 289 Parsonage Lane in Sagaponack, listed with Zachary Vichinsky of Bespoke Real Estate for $59.9 million; and 28 Gin Lane in Southampton and Villa Maria in Water Mill, both on the market with Tim Davis of the Corcoran Group for $50 million and $69 million, respectively. Villa Maria is one of several properties owned by the late shoe mogul Vince Camuto, who died in January.

Education pioneer Chris Whittle has listed his circa-1931 Georgica Pond estate, which was published in HC&G in 2010, for $140 million.

The 22,000-square-foot waterfront estate on 11 acres overlooking Mecox Bay was built in 1887 and later restored, in 1919, before being sold in 1931 to the Sisters of St. Dominic of Amityville, who used it as a convent, school, and spiritual center. In 2005, the nuns decided to take the money and run when Camuto and his wife, Louise, a former Miss Sweden, offered to buy the house for approximately $35 million.

After restoring the estate, the Camutos started periodically putting it up for sale, with asking prices ranging from $100 million in 2008 to $49.5 million in 2013. “The price has fluctuated, depending on how much land and how many additional parcels have been offered with the main house,” says Davis, who adds that there are three adjacent, smaller parcels available for a grand total of $85 million. Can’t afford to join the club just yet? As of press time, 220 East End properties are on the market in the $10 million to $50 million price range.

A version of this article appeared in the June/May 2015 issue of New York Cottages & Gardens with the headline: Deeds and Don'ts: Good Neighbors?

 

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Property of Note: 76 Windmill Lane

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52 Dorchester Road, Darien, CT
Reminiscent of a bygone era, this iconic 1930s brick estate is poised to be brought back to its former glory. Envision Gatsby-meets-2018 with a grand entrance, generously sized rooms, high ceilings, fumed wood paneling and arched doors, newly refinished floors and a freshly painted interior throughout much of the house. Set on 4.5 private acres with a pool, cabana and mature plantings, this property is a rare find. Vintage details for a future masterpiece.



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57 Miller Lane East, East Hampton
Charming East Hampton cottage renovated in 2013 was transformed into a 2,500+/- sq. ft. dream home. On the first level are two bedrooms, a bath, open living areas, and a sunroom. The bluestone sun porch overlooks a beautiful pool and pool house with garden. Upstairs master suite features a bath with marble herringbone floor with nickel Samuel Heath shower fixtures. Custom window treatments, Phillip Jeffries wallpaper throughout and Sonos inside and outside.



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64 Birchwood Lane, Bridgehampton
6,100 SF Barn-style home conveniently located between Bridgehampton and Sag Harbor. With six bedrooms, six full baths and two half baths, this home will entertain family and friends all year round with two fireplaces, one of which is in the spacious master suite. Enter into a Grand entry foyer, 10’–11’ ceilings throughout main level and into a designer kitchen. Relax outside with beautiful landscaping and a heated gunite pool. Integrated concierge through Chaloners for an effortless Bridgehampton lifestyle.

Barn and Vine

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20 Hook Pond Lane, East Hampton
On a private lane in the Hook Pond estate area is a new home designed by Abstract Builders. The 10,000 SF home (on 3 levels) is perfectly sited on a 1.6 acre lot to take full advantage of the pond and ocean views. Dramatic open kitchen, dining and living space opens to the outside; includes 7 ensuite bedrooms, plus light-filled lower level with billiards, viewing room, wine cellar and sauna. Outside, landscaped grounds surround a gunite pool, spa and pool house.



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76 Windmill Lane, Bridgehampton
On 2+/- acres, landscaped for complete privacy, this complex consists of three interconnected enameled clad steel barns custom designed by Jack Ceglic, with radiant heat concrete floors, maintenance free exteriors and grand, open spaces. The 4,600+/- sq. ft. main house offers custom kitchen, master and guest suites, library and half bath. All rooms open to large mahogany terrace. The guest house/studio has 2 bedrooms, 2 baths, and separate study. Heated gunite lap pool.



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5 Green Pond Road, New Milford, CT
Litchfield County's fabled Candlelight Farms Airport. This is a rare opportunity to own one of CT's few grass strip airports. Moments from Candlewood Lake and all that Litchfield County offers. Bucolic 35 acre setting with 2,900 ft. turf runway. The collector-quality hangar boasts a steel framed, 6,000 sq ft structure with automatic doors. Spacious enough to store up to 10 Piper Cub size planes. Perfect for a private user, a collective of enthusiasts or a commercial investment.



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11 Musket Ridge Road, Wilton CT
Perched at the top of a roaring Silvermine River waterfall on almost 4 acres, the property spreads out into Wilton and New Canaan. Every inch of this home has been perfected to capture the timeless appeal of the river while exuding ultimate refinement and good taste. The architect-designed home captures river views and sounds, and almost every room opens to one of the magnificent decks or to a private balcony. Call Ileana Barns Slavin Associates-William Raveis at (203) 246-7215.

11 Musket Ridge Road

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