For $75 Million, a Beachfront Mansion on Southampton’s Storied Meadow Lane


A more than 8-acre estate on Southampton’s Meadow Lane, a tony enclave that has recently drawn the likes of New England Patriots owner Robert Kraft and hedge-funder Ken Griffin, is hitting the market for $75 million. The property is directly adjacent to a mansion that was owned by David Koch, the late billionaire industrialist and philanthropist, property records show.

With roughly 500 feet of frontage on the beach, it is one of the largest and most significant Meadow Lane properties to come on the market in years, according to the listing agent, Tim Davis of the Corcoran Group.

An aerial view of the Southampton estate.



Photo:

Corcoran

The estate is owned by a limited liability company tied to the Carter family, records show. Lawyer Julia Vance Carter died in 2014 and was survived by three children. The property has been in the family for decades, according to the records.

The main house, spanning roughly 22,000 square feet, dates back to around 1929 and is built in Tudor style, Mr. Davis said. There is a large living room with vaulted, beamed ceilings and a fireplace, a paneled library and sitting room overlooking the ocean, a dining room, a beachfront deck and an outdoor tennis court and pool. There are 15 bedrooms, including seven with ocean views, and a staff wing with an additional four. There are also two whimsical Coney Island-inspired game rooms, Mr. Davis said.

Mr. Davis said the house is in “fair to good condition” and he expects a new owner will undertake a considerable renovation and restoration. He said he thinks it is unlikely that the home will be replaced entirely due to its historic nature.

The property has a large living room with vaulted beamed ceilings.



Photo:

Corcoran

Sales activity in the Hamptons has picked up significantly over the past year, according to recent data from Douglas Elliman, driven by Manhattanites seeking out more space amid the pandemic. Luxury sales were up by 48.6% in the first quarter compared to the same period in 2020, though median luxury prices were down by 16.8%.

In turn, listing inventory has been climbing, the Elliman report shows, as more homeowners look to cash in on the uptick in market activity. Mr. Davis is also listing an estate for $52.5 million on Meadow Lane that is owned by Phyllis Pressman, the wife of the late Fred Pressman who was the chairman of Barneys New York department store, The Wall Street Journal reported. That property has a kind of fairy-tale look, with a wood-shingled roof that resembles thatching.

Write to Katherine Clarke at katherine.clarke@wsj.com

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link Lifestyle

Be the first to comment

Leave a Reply

Your email address will not be published.


*