East Hampton Town Buys Hook Pond Property

Here’s a twist we weren’t expecting in the long sales history of this property. 81 Ocean Avenue, East Hampton, finally closed last week, after having been on the market since 2014. It was sold to East Hampton Town using CPF monies to preserve the land along Hook Pond. Represented by Justin Agnello, James Keogh and Hara Kang of Douglas Elliman, the one-acre property has 107 feet of water frontage and also features views of the dunes.

The last ask was $4.995 million. At one time, though (2014), $28 million was asked for the property (along with another one). In November 2015, the properties were put up for auction, and this one didn’t sell. Asking price gradually dwindled from $8 million down to the $5 million.

This seems like an excellent ending to the story. Preservation is good. Congrats to all involved!

For more, click here.  81 Ocean Avenue, East Hampton