An oft-traded oceanfront property on Southampton’s Meadow Lane, often referred to as Billionaires’ Lane due to all the billionaires who own homes along the beachside road, has sold for the third time in eight years. This time, it went in a $48 million, off-market deal, and the property now features a fabulous new house and landscaping. Harald Grant at Sotheby’s was responsible for this plum offmarket deal.
The estate formerly belonged to electronic dance music mogul Robert X. Sillerman, who assembled a portfolio of adjacent properties that added up to a whopping 14 acres. Sillerman sold this property, which spans 3.6 acres with 200 linear feet of ocean frontage, in 2014 for $37.5 million. At the time, a dated 12,000 square foot house stood on the property. The land was sold again in 2020, for $36 million, to an anonymous buyer who former listing agent Tim Davis of Corcoran said planned to develop the land. And that someone did just that. The plum piece dunes now features a fabulous new house and all new landscaping.
Frustratingly for lookie-loos, the newly built home is sequestered behind gates and obscured by landscaping, and there appear to be no photographs or plans of the design online. However, notes for the village of Southampton Architectural Review Board planning meeting state, “Tom Kligerman from Ike, Kligerman and Barkley is the architect, Ed Hollander is the landscape architect and Thom Lawrence from Bulgin and Associates is the contractor. This is a traditional with a modern twist. It is shingle style, Alaskan yellow cedar, which will weather gray, the trim and windows, are painted white wood; the masonry will be white brick.”
Judging from other designs on IKB’s website, the house is no doubt a stunner, and Ed Hollander is well known in the Hamptons for his outstanding landscape designs. And of course, with all those acres, there’s plenty of room for a large oceanside pool and a sunken tennis court, which are sure to be added.
With the high-end market cooling in 2022, this will likely be among the most expensive sales in the Hamptons this year. Perhaps by the end of the year some images of the residential showpiece will be available. Stay tuned!
Some of the many billionaire investors, financiers, real estate developers and hedge fund fat cats who maintain lavish oceanfront estates along Meadow Lane include Leon Black, Chase Coleman III, Henry Kravis, Aby Rosen, and trophy property collector Ken Griffin, who famously plunked down $84 million for Calvin Klein’s custom-built monument to minimalism on the beachfront road.
P.S. If the price seems high, another of Sillerman’s former properties, next door to this one, with a whopping 5.18 acres of land and a 4,000 square-foot-house, is in contract with an asking price of $44.95 million. Harald Grant and Bruce Grant for Sotheby’s are the reps.
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Image Credit: Corcoran Note: image shows previous house.