Month: April 2021

Back in 2013, we were charmed by the ridiculously over-the-top decorations for Société du Vin, a wine club started by Leslie Alexander, billionaire (and former owner of the Houston Rockets). Alexander spent $5 million over a couple of years to turn an old Bridgehampton potato barn into a wine storage facility with an over-the-top tasting room decorated by a Hollywood set designer. He planned to offer shares to locals for $50,000 plus about $8,000 in annual dues. We particularly loved the giant copper head of Bacchus.

Now comes news that 204 Butter Lane has been sold. Sorry, we seem to have something in our eye… The property closed for just $2 million March 12. We’re gutted. Plus we missed the tag sale for the giant copper head.

Adieu, Société du Vin. Regrets éternels.

 

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The Dunes, the exceedingly upscale (read: expensive) rehab facility, has purchased a property in Southampton. From what we understand, the organization was renting its previous spot on Bull Path, East Hampton. The new property is at 15 Lohan Court in North Sea, close to the bay, and frankly seems ideal for this kind of use.

It’s bigger than the previous house, with 8 acres of land, indoor and outdoor pool, and a new 12,400  square foot house with 10 bedrooms, 11 full baths and 4 1/2 baths. Indoors, the massive great room seems perfect for patient hangouts, while outdoors, there’s plenty of seating around the pool, a pool house, and an outdoor fireplace. Er, not sure what they’ll do with the wine cellar.

The Dunes paid $5.995 million for the property, which closed March 21.

Previously, we were the first to mention that East Hampton Point had been sold. Then, we exclusively revealed the buyer, Heath Freeman of Alden Global Capital. Now, we’ll tell you how much he paid.

Asking prices for the place have been up, down, up, for as long as we can remember, including a high of $55 million back in 2006. Last ask for the restaurant-marina-accommodation complex on five acres was $27 million.

Mr. Freeman drove a hard bargain, we think: he paid $17.28 million, almost $10 million off the asking price. What did he get for all that? Five acres of harborfront land with a waterfront restaurant, accommodation including 13 individual cottages and seven suites in the main house, and a full-service marina and boatyard with 58 slips. There’s also a ship’s store, pool, and tennis. It would be impossible to replicate the restaurant and marina on Three Mile Harbor today, with current waterfront zoning laws.

Now all Mr. Freeman has to do is renovate the Point and turn a profit. Easier said than done, but this prime spot has been ripe for upgrading for a long time.

 

 

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Paper mogul and art collector Peter Brant and supermodel wife Stephanie Seymour have sold their oceanfront Sagaponack house in an off-market deal. The deal closed January 15 this year, just two days before the sad death of their son Harry. The sales price for 159 Trees Lane, on Gibson Beach, was $26 million.

The couple purchased the 2.6-acre property in 2006 for $6.1 million. It included a pond as well as a comparatively modest house built in 1994, with 4 bedrooms and 5 baths in 2,668 feet. (According to Zillow.)

The Brants used to be fixtures on the summer social scene in the Hamptons, especially regarding polo, but seem to be spending their time in Florida now. They purchased an historic home in Palm Beach last year for $46.75 million.

About ten years ago, we were putting together a book proposal about famous and not-so-famous people’s love for Montauk. We wrote to Bernard Madoff in prison, and he wrote back. He was a swindler and a scoundrel, but he did love Montauk, as you will see.

Dear Laura,

My most special memories are of my years in Montauk with my family.

It started in 1960 when my wife and I brought our 26 foot Trojan to the Deep Sea Club for a weekend of fishing. We were quite intimidated by the large sport fishing boats with their professional crews. It was not long before we realized that the club was a very friendly and family oriented place, in spite of its storied history. We proceeded to spend every summer in Montauk, bring our 36 foot Egg Harbor and then 56 foot Ryborich sport fisherman to the club. Our experienced while living on our boats at the club were fantastic. Our children spent their time fishing off the dock with the other members boys and girls from the age of 4 years until they were old enough to work as dock boys at the club. They had side jobs digging for clams and washing boats.

The club’s dockmaster, Bob Darenberg, saw to it that they learned everything necessary in order to service the marina and as a strict but loving father figure all the boys developed into hard-working young men.

As time went on I built a beach house off of Old Montauk Highway and moved our family with our grandchildren there for the summers. Our clambakes and lobster cookouts and days of surf fishing from our beach were glorious. My sons remained close ties with Montauk along with their own families and the local friends they met over the years.

In conclusion I can say that of all the travels I have enjoyed worldwide nothing as come close to my love for Montauk.

Bernie Madoff

As always, there are a few interesting points to glean from real estate closings this week. First up is 794 Montauk Highway, Water Mill. This is 6.4 acres of vacant land (immediately east of the Water Mill Shoppes) that, since 1986 or so, has had various planned uses, including a supermarket. Most recently the plan was a project known as Water Mill Village.

In 2018, the planned development district (PDD) was finally approved; the complex was supposed to include 38 townhouse units, a clubhouse, pool and sewage treatment plant.

In 2019, the land was in contract with a last ask of $30 million; the original developers were selling to someone who’d finish the project. The property closed on December 30 for just $9.2 million. Seller was Watermill Village Associates II LLC, while the buyer was reported as Watermill Crossing LLC. New name, same condos?

Also closing recently was 1384 Meadow Lane, Southampton. This is a small three-bedroom bungalow on 3.12 oceanfront acres. So? The place closed for $16 million on December 8. Then it sold again on March 8 for $20 million. They must have done a lot of improvements in three months! (Kidding.) The buyer was 1384 Meadow Lane LLC.

We honestly have a lot of time for Bespoke. Back in the day, people snorted at the Vichinsky brothers founding a brokerage for $10 million and up properties, but we have to admit: those folks get the job done. Time after time they’ve managed to sell trophy properties that no one else could shift.

Surely, the former Ford property, once known as Fordune but now known as Jule Pond, is one of the jewels in their crown. It’s been on the market for four years, initially at $175 million but with a last asking price of $145 million. Over the weekend, the brokerage announced via Instagram that the enormous (42 acre) oceanfront estate was in contract for a record sum. “This trade represents the highest price achieved for a single property in the Hamptons’ History. Bespoke represented the buyer and seller in this transaction.”

Hmmm….the record for a Hamptons property was the $137 million hedgie Barry Rosenstein paid for the Browne estate on Further Lane. But, if you recall, that property is made up of three parcels–so, we’ll be eager to see what Jule Pond trades for.

The house doesn’t matter, folks. The listing for this oceanfront property, at 1210 Meadow Lane, Southampton, doesn’t even bother showing the interiors. (Although judging how terrible the dated 1980s post-mod exterior is, we’re kinda dying to see in the inside….and oddly, the house only sports three bedrooms.) This property, now in contract, is all about the location and the land.

For a last ask of $37 million, both of those had better be impeccable, and they are. Meadow Lane, no matter what pretenders may say coughFurtherLanecough, is the best address in the Hamptons. This is 3.32 acres on the ocean side, with 200 feet of oceanfront and sunset views to the bay. There isn’t a tennis court, but there’s room for one if the buyer wants. No wonder the property, repped by Douglas Elliman’s Michaela Keszler and Madeline Hult Elghanayan, which came onto the market a few months ago, was snapped up quickly.

Well done to all, and we’ll be interested to see what’s built on the land.

• 1210 Meadow Lane [E]

EAST HAMPTON, NY–Emphasizing that the venerable East Hampton institution is eager to shed its “fuddy-duddy reputation,” Maidstone Club Secretary Mrs. Charles Worthington-Smythe announced to reporters today that the club has accepted its first musician member, Lil Nas X. “In the past, we were reluctant when musicians applied to the club, as we know they often smoke reefer and associate with Jewish people, but times have changed and we’re glad to change along with them. Mr. X is very successful, I’m told, so he’ll be able to easily afford the club’s initiation fee and annual dues. I also understand that Mr. X is a confirmed bachelor, but I’m sure he just hasn’t met the right girl yet. We have many lovely young debutantes among our junior members. Perhaps he could play doubles on one of our grass tennis courts.”

At press time, a horrified Mrs. Worthington-Smyth had fainted when she found out Lil Nas X is black.