Southampton's Gimbel Estate in Contract After Three Days

Blink and you missed out! The c. 1890s property was once one of the three Gimbels estates in Water Mill (yes, the department store family). It was purchased by the Gimbels in 1910. For the past thirty years, it’s been owned by an Italian financier, fashion house-owner and composer. Visitors to the home have included Carnegie Hill musicians.

“By day they practiced for hours in the house and music studio above the garage, and by night impromptu concerts were held through summer months out on the lawn or in the front room, with singing and dancing afterwards into the wee hours,” according to the current owner. The pool is shaped like a guitar, by the way.

With period details intact, the property, represented by Michaela Keszler of Douglas Elliman, was asking $5.4 million. “Was” because the property went into contract three days after it hit the market. Amazing! We’ve heard of some deals like that this summer, showing that even in a down market, an attractive and attractively priced property can always find a buyer.

There’s a 5,000-square-foot main house with five bedrooms and five-and-a-half baths, wraparound porch and multiple patios and terraces; a connected playhouse with separate full bath and entrance; an artist’s studio with fireplace, bedroom and bath; and two-car garage. All this is set on 1.5 acres.

Congrats to all involved!

For more, click here. 391 & 396 Cobb Road, Water Mill