Updates: East Hampton Barn, Arc House, and More

So what’s going on in Hamptons real estate this week? Plenty. The East Hampton barn that was our property of the week just two weeks ago (below) is already in contract. We’re not surprised. Yes, the property is on Pantigo Road, but it’s set far back on a flag lot. James MacMillan of Brown Harris Stevens, who listed the property at just under $2 million, told us it’s “Priced at land value for a shy acre in the village so the house and the mature landscaping is more added value. And the owner is motivated on top of it all.” There’s 0.91 of an acre of land, and yes it’s in the village. Well done to all and congrats to the lucky new owners.

The Arc House, which we wrote about in late June, has finally hit the market. The house, formerly owned by Jessica Meli, wife of Joseph Meli, a New York businessman who pleaded guilty last year to defrauding investors, was seized by the federal government after Meli was accused of running a Ponzi scheme.

The Arc House was designed by Maziar Behrooz back in 2010. In 2013, the owners put the place on the market asking $5 million. The property didn’t sell until 2015; it traded for $3 million, about $500K less than it cost to build. Now the asking price is $2.625 million, which we tend to think is a bit of a bargain.

The house is very interesting and spacious, with more than 6,000 square feet; a main living space that’s 30 by 60 feet with a 16′ ceiling at the apex; an art gallery space with a custom hanging system; flexible rooms that could be used as bedrooms, a screening room, or an office; and a sunken courtyard.

Finally, what is supposed to be the oldest house in Sag Harbor has sold and closed. Built in 1693 on Sagaponack, the house actually moved five times before it finally settled down at 64 Union Street. Sold by Gioia DiPaolo at Douglas Elliman, the listing notes, “The living and dining room are the core of the original structure and retain the rough ancient beams and extraordinary wide plank floors on the ceilings, and some of the floors and walls.”

There are three bedrooms and three bathrooms, and the 0.17-acre plot, which also includes a carriage house with bath that could be used as an office or artist’s studio, still has room for a pool. Last asking price was $1.55 million.