Hobnob with the East Hampton Zillionaires for Just $52.5 Million

Further Lane is one of the more fabled streets in the Hamptons. It’s where boldfaced names like Jerry Seinfeld, Lorne Michaels, Larry Gagosian, and Carl Icahn maintain big spreads, along with Martha Firestone Ford, Mort Zuckerman, Howard Schultz, and Ron Baron. Once farmlands, the road is now filled with gracious, manicured estates that slope down to the Atlantic Ocean, with some agricultural fields and vintage farm buildings still interspersed in between. It’s quiet, peaceful, and very, very wealthy.

The newest Further Lane estate to come to market was owned by a much lesser known name, Alan Seligson, the recently-deceased chairman of a company that made aerospace parts, and has just been listed with Hedgerow at $52.5 million. A big number by any standard, all that dough buys four acres of land and approximately 400 linear feet of ocean frontage, along with a 6,100-square-foot cedar-shingled house with five bedrooms and five bathrooms plus two powder rooms, a detached two-car garage, grassy gardens, and, of course, a swimming pool and spa.

Interior photos of the house are skimpy, so the place might be in need of a redo. It may even be a teardown, which, crazily enough given the electrified market in the Hamptons, could make sense at this price point. Sequestered at the end of a long, private lane shared with just a handful of other homes, the exterior seems pleasant enough, with a long swooping wood-clad roof, while the master suite occupies a separate wing on the first floor with dual bathrooms, a walk-in closet, and sundeck, along with an adjacent office. That all sounds pretty fab.

Unfortunately, though, the ocean view isn’t the best. This area of the coast is known for its high double dunes, which offer great protection from the elements and possible climate change but, depending on how the house is sited, not always much in the way of stunning vistas.

Still, bragging rights to an address along one of the most prestigious and expensive streets in the Hamptons and the ability to walk down the beach and borrow a cup of sugar from those nice Seinfelds? Well, if you’re rich enough, that’s priceless.