Beach Walk or Elevator?
How do you define expensive? Burnt Point in Wainscott and the Warhol/Morrisey property in Montauk are each listed at $50 million. Nelson Peltz is holding at $75 million for his Palm Beach mansion, and Iris Cantor is asking $45 million for her huge house in Beverly Hills. Is a ten to twenty million dollar listing—a fairly common price in the Hamptons—in the medium price range? It’s relative, but most of us would still call that expensive.
Architecture: Handsome and reliable neo-shingle style. The gambrel roofs, massing of French doors, and Palladian derived windows are tried and true choices for large, elegant, estate area homes.
Site: The 2.2 acre property fronts on Cooper’s Neck Pond in Southampton, in the heart of the estate area, and close to the ocean beach.
The inside word: At $12.3 million (reduced from $14 million) this listing seems correctly priced, given the many amenities and overall high quality. A third floor “observation lounge” reached by elevator offers great views—if not quite the same healthy stimulation as a walk on the beach.
On Our Radar
We like real estate with a history, or at least an anecdote, and there is an engaging story connected with this new listing in East Hampton. Alfred Lee Loomis, a Wall Street tycoon, built this house in 1930, and several years later, at the height of his influence and with his considerable fortune, abruptly retired in order to devote himself to science. A dedicated and highly gifted amateur, he was instrumental in developing radar, enabling the allied victory in the WWII.
Architecture: A classic, comfortable, traditional house, typical perhaps of how the wealthy lived in that era. There are no grand gestures, but a resolute confidence in what is correct, right down to the shutters, seems ingrained in this house.
Site: One acre on David’s Lane in East Hampton, a fine Village location that is an easy walk to Main Street, the Nature Trail and the beach.
The inside word: Don’t look for the drama of houses currently being built in traditional styles. The homeowner’s affluence is expressed here in more conservative ways, and the ties to the past are strong. It’s the sort of house that might have been passed down through several generations, which lends it a different kind of snob appeal. Offered at $3.950 million.
Estate of Grace
We all need a good Independence Day weekend. Some sunshine after the wettest June on record, and some cautiously optimistic if not quite ecstatic news on the economy, is certainly putting us in a better mood. Barbeques on the grass, fireworks on the beach, cocktails at the benefits and fun around the pool are just the ticket. This being the Hamptons, however, your worries are definitely not over—it’s got to be the right pool, the right people, and the right location.
Architecture: There is a pleasant cadence and modulation to the exterior, an observance of proportion and formality with a light touch of romanticism. The design was well thought out.
Site: Waterfront on Gardiner’s Bay in the Grace Estate section of East Hampton. Clearing restrictions obstruct the big views, but it is nevertheless prime land overlooking the bay.
The inside word: We’d be happy to spend the holiday weekend or all summer for that matter lounging around the pool and playing on the beach in this quiet corner of the Hamptons. The master bath is a sophisticated composition and a real change of pace from the luxurious but predictable baths we usually see. Offered at $5.750 million.
Look Out
Do you dream of fields? Much of our farmland is gone, so what remains is all the more precious. A good portion of existing farmland has been protected by zoning, the sale of development rights, or deeded easements, and will remain agricultural. People lucky enough to own homes abutting or close to protected fields are assured of natural light and expansive views.
Architecture: Intersecting gambrel roofs, dormers and balconies lend some interest, while the house as a whole, hunkered down on its lot, suggests security and substantiality but not design sophistication.
Site: North of Southampton Village, on a generous 3.45 acres in an agricultural area. Even without the neighboring fields this lot size offers great privacy.
The inside word: How much is a good view worth to you? In this case, $1.995 million buys a large lot in a reasonably good area with a comfortable and somewhat stylish house offering bounteous light and views. The house can certainly be replicated, but over the years such views will undoubtedly become more rare, more desirable and more expensive.