After several years of skyrocketing prices, it seems the Hamptons South Sea Bubble should be about ready to pop, but sale prices just keep going up and up. As evidence, two more big trades were recorded this week, one in Bridgehampton and the other setting a record price in Amagansett. Both properties are oceanfront.
First up is a home on Bluff Road that went for a cool $32 million. And if any property deserves to be a record-breaker in Amagansett, surely it’s this sweet spot.
Many if not most oceanfront properties in Amagansett, which lies between Montauk to the east and East Hampton to the west, are small compared to those found in other towns, villages and hamlets across the Hamptons. That’s because in 1936, a developer bought 236 acres of oceanfront property and created an enclave of modest, affordable summer homes called Beach Hampton. Oceanfront properties in the low key community, including those owned by Andy Cohen and Sarah Jessica Parker, typically span about half an acre of land or so, which is why they don’t command the enormous price tags like the multi-acre oceanfront spreads in East Hampton and Southampton.
The recent sale, slightly to the west of Beach Hampton, is an exception to that rule. At 2.6 acres, it’s very large for Amagansett, plus it is surrounded by more than 100 acres of beachfront reserve that ensures total quiet and privacy. The property was a pocket listing from Douglas Elliman’s Martha Gundersen and Paul Brennan.
Promo materials, which include a floor plan (below), show the 6,840 square-foot house offers five bedrooms and six and a half baths, a spacious living room with fireplace, a formal dining room, a den and an office. The second-floor master suite shares a large balcony with the office overlooking the ocean, and a finished lower level contains a recreational room, a guest suite, laundry facilities, and lots of storage for beach chairs and umbrellas.
Outside, there’s a gunite pool surrounded by a stone patio and a two-car garage; there’s even room for a tennis court if the new owners so desire. And, of course, there’s the direct, boardwalk access to a nearly one-mile long stretch of undeveloped beach, the real reason for the record-setting price.