A Fraction of an Oceanfront Acre in Sagaponack in Contract

In few communities can just 0.62 of an acre of land, with a teardown home, command ten million dollars. (Not even you, Atherton, California.) But this is Sagaponack and the land is oceanfront, with the huge estate of that nice David Tepper just a couple doors down. We point out that we don’t know the final price of this property; it’s in contract with a last ask of $11 million, but we’re comfortable guessing ten. The property next door sold for ten million in 2014 and it’s a slightly larger parcel at 0.77 of an acre.

The property’s sellers are two members of the Halsey family; we’d guess they inherited and probably could wait for a good offer. The original asking price was $13.5 million. The property was listed by Kevin Wells at Douglas Elliman.

The 1890 house is cute enough, but will almost certainly be replaced by something sleek and ultramodern.

For more, click here. 41 Gibson Lane, Sagaponack