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A unique and special midcentury modern house has sold. The Otto Spaeth house, at 30 Spaeth Lane (what are the odds?), East Hampton, was designed in 1956 for an art collector, who was also a vice president of the Whitney Museum. The architect was Gordon Chadwick, an associate at distinguished designer George Nelson’s office. The house is a modern interpretation of a Shingle Style house. The roofline is like the grand sweeps of the old Stanford White houses; it’s covered in shingles, but it’s also playful and modern.
After Spaeth’s death in 1966, the house was purchased by June Noble Smith Larkin Gibson. Her father Edward J. Noble founded both candy company Life Savers as well as the ABC television network. Ms. Gibson died last June at the age of 98; her heirs listed the property, set on just over five acres with 333 feet of oceanfront, asking $72 million. The property closed in March for $60 million.
Over in Wainscott, Burnt Point has closed. Pharma billionaire Stewart Rahr, who once cut a swath through Hamptons parties of the past decade calling himself Stewie Rah Rah, is in contract to sell Burnt Point, his 24-acre estate on the Wainscott side of Georgica Pond. Rahr first listed Burnt Point back in 2015, asking $95 million.
The property first made headlines in 1996, selling to commodities trader David Campbell for a record setting $10M. Campbell commissioned architect Francis Fleetwood to build the house, which was completed in 1999. Campbell then put the estate on the market in 2000, asking $50M. (Whence the name? A forest fire around the turn of the twentieth century that denuded the point.)
The sales price was $47 million, which is only $2 million more than Rahr paid for it in 2005. Ouch. At the time, this was the most expensive home ever sold in New York State.