Seventeen undeveloped contiguous acres in Sagaponack Village with deeded ocean access have hit the market for an asking price of $110 million. If the property fetches close to that price, it will likely be the most expensive land deal in the history of the region.
The owners since 1969 are developers and brothers Stephen and Barton Perlbinder. According to a 2001 variance application, the parcel was 27.47 acres back then, stretching from Daniels Lane to the ocean. On the 10 acres closest to the ocean, each brother has a home: Stephen to the west and Barton to the east.
The land has since been subdivided, and the 17 in-land acres are now designated as agricultural — specifically, “field crops” — but in an R-120 zoning district.
The land could potentially yield up to six estates under R-120 zoning, which permits one residence per 2.75 acres. It also includes most of a clover-shaped, 60,000-square-foot, man-made pond that was dug in 1998 to provide the sand needed to rebuild a dune in front of Stephen Perlbinder’s Norman Jaffe-designed home. There is also a driveway easement cutting across the southeast corner that allows access to both Perlbinder homes. The right-of-way to the ocean runs between their two properties.
The 17-acre property is at 615 Daniels Lane. Tim Davis of Corcoran has the listing, which states this is a “historic opportunity to acquire one of the last remaining vacant parcels on the East End.”
