The Top 10 Hamptons Real Estate Sales Of 2021, East Of The Shinnecock Canal

The fourth quarter of 2021 is certainly one for the history books.

On the next-to-last day of the year, the second highest sale that the East End has ever seen slipped under the radar with an $118.5 million off-market deal in Water Mill — bumping up the total dollars spent in 2021 to $7.8 billion.

Of that, almost $700 million lies in the Top 10 sales, east of the canal, alone — courtesy The Real Estate Report Inc., which bases the ranking on prices recorded with Suffolk County for single parcels.

As to whether these astonishing prices will set the tone for 2022 will remain to be seen.

At the buzzer, a breathtaking deal closed out the fourth quarter of 2021 just before the new year — a record-breaking $118.5 million, even by East End standards, for a compound of four properties in Water Mill.

In the biggest sale of last year, and the second largest in Hamptons history, deed transfers showed that 70B and 70C Cobb Road sold on December 30 for $56.5 million and $60 million, respectively, which sit adjacent to a vacant parcel at 70A Cobb Road and another unaddressed Cobb Road property that sold for $1 million each.

Although each sold to different, yet similarly named, LLCs, the off-market deal pointed toward a single buyer, who acquired two mansions — with 18 bedrooms and just over 33,000 square feet of living space between them.

The seller, on the other hand, was actually a duo — fashion magnate Arthur “Artie” Rabin and his son, Jason Rabin, who serves as the president of his father’s company, Wear Me Apparel/Kids Headquarters, which creates merchandise for brands including Kenneth Cole, Timberland, and Sketchers USA.

The trade is second only to the $147 million sale of an oceanfront estate in East Hampton — a combination of three lots 60, 62 and 64 Further Lane — in 2014.

Known as “Fordune,” the manse at 90 Jule Pond Drive in Water Mill — the former Ford family estate — sold for $105 million on August 17.

Built in 1960 for Henry Ford II — the eldest grandson of the Ford Motor Company founder he is named after — and wife Anne McDonnell, who kept it when they divorced four years later, the property was once more than 200 acres. Today, it comprises a fraction of that — 42 acres of oceanfront — which is home to a 20,000-square-foot European-inspired manor, ponds, a carriage house, pool, six-car garage, and tennis and basketball courts.

The last asking price had been $145 million, which means the buyer — listed as JPD2021 Ltd — got a 27.6-percent discount. The seller, financier Brenda Earl, was seeking $175 for the estate back in 2017.

Bespoke represented both Earl and the buyer.

“Understanding the nuances of a $100-million-plus, 42-plus-acre oceanfront estate surrounded by multiple bodies of water, with historical ties and many future scenarios to consider, with no comparable sale to reference, presented its challenges,” said Cody Vichinsky, president and founding partner of Bespoke, in an Instagram post. “In summary, our unique approach allows for collaboration and transparency within our company, enabling us to build a collective force to research, analyze, and present this opportunity through both an investment and a visionary lens to the ultimate purchaser we procured. Throughout the process, we kept the seller fully informed, ensuring both parties could make the most informed decisions that led to the agreement of this trade.

“At Bespoke, we believe it is not enough to say you think differently; true innovation comes from action, and that action brings results,” Vichinsky continued. “And we are grateful to deliver the benefit of those results to our clients.”

Fashion designer Calvin Klein has landed on the Top 10 list for the second year in a row. First, he sold 650 Meadow Lane in Southampton for $84.45 million in 2020, and next, he parted ways with 75 West End Road in East Hampton for $75 million last spring.

Like his former Meadow Lane property, 75 West End Road is also on the ocean. It has 355 feet of shoreline and also fronts Georgica Pond to the north. Last year, the 6.4-acre property was before the town for alterations and two additions by Stelle Lomont Rouhani Architects, with landscape design by LaGuardia Design Group.

The estate, which has a traditional residence, was sold in tandem with a vacant property at 69 West End Road for $10 million, which Klein co-owned with his daughter, Emmy-winning television producer Marcia Klein. At $85 million in total, the off-market deal topped the price that Klein achieved last year in Southampton. Both sales closed May 17 and the new owners are Traumhaus 1 LLC and Traumhaus 2 LLC.

In 1929, William Ladd had set his heart on spending the Fourth of July in his new oceanfront home in Southampton. And so, in six months flat, he moved heaven and earth — by literally reconfiguring the dunes — to make it happen.

Nearly a century later, a new buyer moved $70 million to own it.

On November 11, the 19,000-square-foot mansion at 840 Meadow Lane — known as “Oceancastle” — traded hands between LLCs. Tim Davis of The Corcoran Group represented the “30-room fairytale Tudor mansion,” according to the listing, which was last owned by attorney Julia Vance Carter, who died in 2014.

Once a “summer cottage,” the estate itself stretches 300 feet wide, its row of seven oceanfront suites situated on two floors along 512 feet of sandy beach. The living space includes a 24-foot-by-38-foot grand living room, with double-height ceilings, anchored by a stone hearth, as well as an oceanside library, solarium, formal dining room, library/office and media room.

A gym, sauna, art gallery, “whimsical Coney Island-inspired game rooms,” a separate staff wing, guest apartment, and both attached and separate guest cottages, round out the manse — which sits on 8.3 acres complete with large seaside terraces, decks, tennis court, a 48-foot swimming pool, and a bayfront parcel with boat mooring, the listing said.

In Wainscott, 31 acres of mostly vacant land — fronting about half of the east side of Wainscott Pond, just south of the Wainscott School — changed hands on April 28 for $66 million. Daisley Land Partnership Ltd and David Osborn LLC sold to 66 Wainscott Main LLC.

Suffolk County’s geographic information system says the land is agricultural, and East Hampton Town maps show the land zoned A5, a single-family residence district, where one home is permitted every 4.6 acres. By that measure, six homes could be built on the land, with room to spare.

According to an old rental listing, the property includes a 19th century carriage house that is quaint and modest with Old World details and charm.

A nearly 6-acre oceanfront property in East Hampton Village, with a circa-1955 midcentury modern residence overlooking the dunes, sold for $60 million on March 15.

The seller was the estate of June Noble Smith Larkin Gibson, the Life Savers heiress who died in June 2020 at her Greenwich, Connecticut, home at the age of 98. According to an obituary from NNY360.com, June Noble Smith Larkin Gibson — Smith, Larkin and Gibson were the names of three husbands who predeceased her — was the daughter of Edward J. Noble, an industrialist who helped found Life Savers, as well as the American Broadcasting Company, which later simply became known as ABC.

Two months after her death, her East Hampton residence — which has 333 feet of shoreline and a double dune that offers storm protection — was listed for $72 million, and the asking price was later reduced to $67 million.

The property can yield a 15,421-square-foot residence, though a six-bedroom, five-bath house designed by George Nelson and Gordon Chadwick currently sits there. According to Caroline Rob Zaleski’s 2012 book “Long Island Modernism 1930-1980,” it was built for Eloise and Otto Spaeth, who gave Spaeth Lane its name.

The new owner is identified only as 30 Spaeth Lane LLC, and Peter Turino and Christopher Burnside of Brown Harris Stevens had the exclusive listing.

The oceanfront estate at 70 Further Lane in East Hampton Village quietly sold on February 5 for $59.5 million in an off-market deal.

There was no listing to be found for the 3-acre property, which includes a large, shingled home, an oceanside pool, a tennis court and a basketball court, and no agency has stepped forward to take credit for the sale. And the buyer’s identity is shielded by a limited liability company.

The previous owner was Jim Chanos, a hedge fund manager who has had great success in short sales. He is the president and founder of Kynikos Associates, which famously predicted the fall of Enron in 2001. Just last year, he successfully shorted troubled companies Luckin Coffee and Wirecard AG.

At 70 Further Lane, Chanos hosted annual parties to enjoy Fourth of July fireworks and also fundraisers. A July 2010 invitation states that Chanos and his then-wife, Amy Chanos, hosted a political fundraiser there for Andrew Cuomo’s first bid for governor. They also hosted at least one charitable fundraiser for Miracle House.

In less than 30 days, an oceanfront estate on Further Lane in East Hampton went into contract for $2.5 million over its last asking price — officially sealing the $55 million deal on December 2.

The new buyer, represented by Catherine Juracich of Douglas Elliman Real Estate, purchased the home under an LLC from previous owner Edith Seligson. Hedgerow Exclusive Properties represented the seller.

The 4-acre property at 442 Further Lane backs up to 400 linear feet of ocean frontage and is “designed to harness the land to its full potential,” the listing said. The custom home by the late architect Francis Fleetwood — who was known for his traditional cedar shingle-style builds across the East End — sprawls across 6,100 square feet with five bedrooms and five bathrooms, capturing natural light and ocean views through large-paned windows throughout.

“The connectivity throughout the main level invokes an intimate, endearing ambiance while the estate strikes an idea balance for entertaining, with spaces and amenities suitable for all aspects of entertainment,” the listing said.

Located in a separate wing on the first floor, the primary suite offers privacy with his and hers en-suite bathrooms, a walk-in closet and sundeck, along with an adjacent office. On the second floor, four large bedrooms boast ocean views, and access to multiple sundecks “showcase the incredible vistas and sprawling estate grounds,” the listing said, which includes a large seating area, gunite pool and spa, and direct beach access.

Burnt Point, a gated 25-acre estate in Wainscott designed by Francis Fleetwood, sold on April 16 for $47 million — more than five years after it was first listed for $95 million, fully furnished.

At 38 Mathews Road, the estate sits on a peninsula that juts out into Georgica Pond, with 2,024 feet of waterfront. It boasts an 18,000-square-foot Gambrel residence completed in 1999. A 2015 New York Times article announcing the listing noted that the estate was originally designed for commodities trader David Campbell, with interior architecture by Brian O’Keefe and interior design by Marjorie Shushan.

The seller was The Stewart J. Rahr Foundation, a charitable organization started by Stewart Rahr, the founder of pharmaceutical wholesale distributor Kinray. The 2015 Times article noted that Rahr had transferred ownership of the estate to his foundation that year. “By donating this house to my charitable foundation, its contributions to medical research and youth initiatives can be stepped up to an even higher level,” he told The Times.

The steel-frame construction main house has five principal bedroom suites plus a self-contained three-bedroom guest wing. The residence is complemented by a waterside pool and spa, a tennis court and a dock.

The house has a double-height entry hall, 200-year-old antique flooring and water views from almost every room. Among the amenities are two elevators, an eat-in kitchen with commercial grade appliances, a beamed library, a paneled office, a professional screening room and a wine cellar.

The asking price was slashed a few times since 2015 and was listed with various brokerages, with Bespoke Real Estate representing the property at the time of sale. By 2020, the ask stood at $56 million, and the new owner is TOBH Properties LLC.

The oceanfront modern at 40 Meadow Lane in Southampton Village sold for $42.92 million on April 5 in an off-market transaction, and the New York Post reported that the new owner is New England Patriots owner Robert Kraft.

The 6,677-square-foot, three-story residence has seven bedrooms and 9.5 bathrooms, and was built a few years ago in place of a 120-year-old shingle-style house in the historic district, over the objections of many village residents. One point of contention was the height — 53 feet above sea level and 40 feet above grade. The village has since adopted a stricter sky plane law, which would prevent the residence from being approved today.

More controversy followed as, last year, the limited liability company that just sold the property sought to eject from the home the former principal of real estate development and investment company HFZ Capital Group, Nir Meir. The LLC said in court filings that Meir was occupying the residence without permission, according to The Real Deal.

The property last changed hands in 2013 for $10.5 million, and it took about four years from then for the redevelopment to be approved, litigated and completed.