Late-Season Sales Hit the Hamptons

Posted on Nov 22, 2014

The Hamptons real estate market hasn’t lost its summer heat. Last week,  electronic dance music honcho Robert Sillerman closed on the sale of 1116 Meadow Lane in Southampton for $37.5 million.

The deal marks the seventh Hamptons property to sell for over $30 million this year and the fourth since Labor Day.

Now four other Hamptons properties are also in contract for over this price, The Post has learned. The numbers are notable considering last year only five big sales exceeded the $25 million mark Hamptons-wide.

“This is highly unusual,” says property appraisal guru Jonathan Miller of this recent burst of super-luxury deals. “This is what you’d be expecting in the first half of the year, not in the fall. This represents a wake-up call.”

Clearly the Hamptons selling season doesn’t end with arrival of autumn.

Other recent East End deals include the $41 million sale of 576 Meadow Lane in Southampton, which closed late last month, along with the record-setting $147 million that hedge funder Barry Rosenstein paid for his 18-acre beachfront digs at 60 Further Lane in East Hampton, which closed in July.

Corcoran Group broker Tim Davis had the listing for Sillerman’s beachfront home.

“It was a very quick sale,” says Davis, adding that the spread entered contract within 45 days. “It was the right buyer at the right time at the right price.”


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