A property in Southampton may have cut its listing price by almost 25 per cent, but that’s not clearance section material.
700 Meadow Lane property sells for $135 million, Behind the Hedges report. The 23 percent price reduction comes two and a half years after former advertising executive Marcia Riklis listed the home for sale.
While the price has been slashed, that doesn’t change one element of the listing: It’s still the most expensive property on the market in the Hamptons.
The 8-acre property has 500 feet of ocean frontage and a 15,000-square-foot main house. The main house has 11 bedrooms, 12 full bathrooms and a heated swimming pool.
Additional amenities for homeowners include a private boardwalk, sweeping views of the Atlantic Ocean and Shinnecock Bay, and an attached caretaker’s cottage.
Custom Real Estate said in a statement update list This home is “priced to sell”.
Neighbors may disagree. The home at 700 Meadow Lane sold for $84 million before a neighboring property hit the market, making it the most expensive residential transaction of 2020 in the Hamptons. The seven-acre property, which was sold by designer Calvin Klein and bought by billionaire Ken Griffin, is just an acre shorter than a comparable offering from Riklis .
Ideal pricing is more of a feature than a flaw when it comes to high-end homes in the Hamptons.
Portfolio manager and former partner at Zweig-Dimenna, Brenda Earl, sold Henry Ford II, 90 Jule Pond Drive, Southampton, in 2021 for $105 million former estate. When Earl listed the 42-acre estate for sale four years ago, it was listed for the familiar $175 million. The price tag dropped to $145 million before being bought cheaply for $40 million.
Bespoke also holds listing rights to the property, which was purchased by an offshore company based in the Cayman Islands.
— holden walter warner