Mylestone at Meadow Lane, Last Asking $135M, Finds a Buyer

Mylestone at Meadow Lane in Southampton, a rare double waterfront, eight-acre estate that was originally listed for $175 million in 2021, has been sold in what could be the most expensive trade of the year.

According to a post on social media Monday by Bespoke Real Estate, which had the exclusive listing, the property at 700 Meadow Lane was officially sold and closed. When reached on Tuesday, Cody Vichinsky, Bespoke’s co-founder, said Bespoke exclusively represented the seller in the transaction, but declined to comment further.

Michael Koeneke of Compass repped the buyer. He declined to comment.

While the exact sale price has not been revealed, The Real Deal reported the sale price was $112.5 million, citing a source familiar with the deal. We’re told it was in contract for five months.

The last asking price was $135 million.

The property was the priciest on the market, despite a 23% reduction in June of 2023.

Located on what is known as Billionaires Row, the 15,000-plus-square-foot residence was owned by former advertising executive and philanthropist Marcia Riklis. The home is situated behind two gated entrances on quiet streets in the prestigious estate section, just minutes from shopping and dining in Southampton Village and the area’s most coveted beaches.

The modern Tudor-style mansion enjoys 500 feet of ocean frontage with a private boardwalk and unobstructed panoramic water views of the Atlantic Ocean and Shinnecock Bay. A private pathway across Meadow Lane leads to a deepwater dock that allows for direct water access for boating and fishing.

The home offers 11 bedrooms, 12 bathrooms and four half baths, as well as an attached caretaker’s cottage. A grand hall divides the formal living room from a dining area with three sets of French doors that open to the ocean-facing patio. An 800-square-foot glass-enclosed sun porch with a bar is located off of the living room.

Intricate tile work said to be inspired by the glittering ocean views, can be found in the sunroom and the kitchen, according to the listing. There are commercial-grade appliances, a large center island and a large pantry.

In 2020, the house next door sold for $84 million when billionaire Ken Griffin purchased the seven-acre estate from Calvin Klein. It was the most expensive sale of 2020.

2023’s Priciest Trades in the Hamptons

While the exact sale price for Mylestone at Meadow Lane has not yet been revealed, it could easily rank No. 1. Currently in the top spot is a Hamptons oceanfront compound that sold for a total of $91.5 million in an off-market deal back in January. Suffolk County deed transfers available on Friday show that 32 Windmill Lane and 26 Windmill Lane in East Hampton sold in two separate transactions — $77,775,000 and $13,725,000 respectively — on January 11.

In August, the East Hampton home where Jackie Kennedy Onassis spent summer vacations as a child, known as Lasata, was purchased by the designer Tom Ford for $52 million.

A Further Lane property in East Hampton traded for $51 million in May. The seller was Peloton co-founder John Foley, who had purchased the property in 2021 for $55 million.

The sale of 140 Murray Place in Southampton falls in line next, another real brokered by Bespoke, falls in next having sold at $41 million.

The house at 51 West End Road in East Hampton fetched $35 million in January. Lloyd and Barbara Macklowe, founders of the prestigious Macklowe Gallery, sold their home to a neighbor, Hard Rock Cafe’s co-founder Peter Morton.

Most Expensive Hamptons’ Deals Ever

How the sale of Mylestone at Meadow Lane racks up with the most expensive trades in Hamptons history remains to be seen.

In 2014, hedge fund manager Barry Rosenstein famously paid the most for an estate when he shelled out $147 million for three separate, yet contiguous parcels on East Hampton’s Further Lane. The biggest of the properties at 62 Further Lane traded for $97 million.

Jule Pond, a 42-acre waterfront estate in Water Mill, sold for $105 million in October 2021, setting the threshold for the biggest trade in Hamptons history for a single property, also facilitated by Bespoke.

Also in 2021, just before the New Year, four trades for Water Mill property composing one of the largest waterfront compounds that exist on the South Fork sold for a combined $118.5 million in 2021, the second-highest combined trade in Hamptons history. Hedgerow Exclusive Properties brokered that deal.