Property of the Week: 680 Scuttle Hole Road, Water Mill

Nestled among the farm fields of northern Water Mill lies this property, which consists of 2.99 acres of land along with a 3250-square foot house built in 1911. “This is a unique property in that it offers options that you really don’t find in the Hamptons much any more,” says listing agent Romaine Gordon of Saunders. Because of the generous amount of land, a purchaser has a number of alternatives to pursue. One would be, of course, to do nothing and just enjoy the property as it is. The vintage house offers 4 bedrooms and 3 baths but has been newly renovated.

As for the next options, they’re all based on opinion from a land use memo prepared by Dayton, Vorhees & Balsam LLP.  One possibility would be to get the existing house designated as a carriage house or accessory structure and then build a new main residence. Allowable lot coverage would be 13,050 square feet less the lot coverage of all existing structures.

Yet another option would be to demolish the existing house and build new, with again, an allowable lot coverage of 13,050 square feet.

Another plan the buyer might pursue is to subdivide, with one lot presumably the existing structure and a second lot that could be developed. Of course, all these options are subject to planning approval, and of course site planning, development rights, and many other fees would be involved.

Asking price for the property is $2.995 million. Agent Gordon says, “Given the acreage, location and potential, this property really is priced to sell.”

For more, click here. 680 Scuttle Hole Road, Water Mill