It has been a busy year on Gin Lane, the prestigious oceanfront street in New York’s Hamptons. First, SAB Capital founder Scott A. Bommer paid $75 million to buy Southampton’s roughly 14½-acre Wooldon Manor from fashion designer Vince Camuto. Then Mr. Bommer changed his mind, selling it earlier this summer in two transactions totaling more than $80 million.
Now the beachfront property next door, which was once also part of the original Wooldon Manor estate, will list for the first time in more than 50 years for $50 million, according to owner William G. McKnight. Tim Davis of the Corcoran Group, one of the agents who handled the sale of Wooldon Manor, has the listing.
The nearly 4-acre parcel has two Tudor-style homes on it, Mr. McKnight said. They were both built around 1900 as the carriage house and caretaker’s cottage for a mansion that existed at the time but was torn down in the 1940s. Mr. McKnight said his father purchased the parcel in the late 1950s.
The former carriage house is about 4,600 square feet with a three-car garage, Mr. McKnight said, and is configured as two apartments: one with four bedrooms and two bathrooms, and the other with five bedrooms and three bathrooms. The caretaker’s cottage is about 2,700 square feet, with four bedrooms and four bathrooms.
Mr. McKnight, who took over ownership of the property after his father died in the 1980s, said the interiors of the houses have been modernized, but the exteriors have been maintained to look almost exactly as they did in 1900.
Also on the property is a tea house constructed in the 1920s by then-property owner Jessie Woolworth Donahue, daughter of the chain-store founder F.W. Woolworth, “to entertain ladies in the late afternoon,” Mr. McKnight said. A roughly 3-acre lawn stretches between the houses and the ocean, he said, which the family has used for parties, baseball and softball games.
Mr. Davis said a buyer would likely construct a new house closer to the ocean—zoning allows for a house of up to 15,000 square feet, he said.
Mr. McKnight declined to give his reasons for selling, but said he would look for a new house in Southampton.