The frenzied Hamptons real estate market continues apace. The biggest closing reported this week was 86 Highland Terrace in Bridgehampton, which sold for a cool $17.725 million. Repped by Susan Breitenbach and Cutter Koster at Corcoran, the property flew off the market in record time. It was listed at the beginning of June and closed July 17. The seller was Highterr LLC, while the buyer was called High Terrace LLC (what are the odds??). On 2.15 acres, with a house designed by blog-favorite Steven Gambrel, the property included all the bells and whistles (pool, tennis, and so on), with the distinctly 2020 additions of organic vegetable and cutting gardens, along with bee hives and compost. Well done to all.
A property that took longer to move was 8 Old Montauk Highway, Montauk, which closed for $8.2 million. Since the last ask for the property, which had been offered for sale for $14.7 million in 2017, was $7.95 million, we’d like to congratulate Chris Coleman of Compass on the deal. Seller was Mickey Drexler’s family trust (yes, of course you remember that when Adam Lindemann purchased Eothen from Drexler, he didn’t buy this farm), while the buyer is art dealer Max Levai. 24 acres of land, plus the two beautiful old horse barns, plus a 5,000 square foot house, is a great deal.
Another quick sale was over on the bay side of Dune Road in Westhampton Beach. 182 Dune Road also listed in June, selling for $11.45 million in August. Agents are Tim Morabito and Dawn Weiss at Compass. Seller was Tiffany Palagonia and the buyer was an LLC. The house is a rather elegant new build, while the 0.61-acre property sports a dock, pool, lush landscaping, and all-important private deeded ocean access across the street.
