At a whopping $152.5 million, an oceanfront compound in Sagaponack is out to set a new record for Hamptons’ home prices — and would do so as a relative peanut among East End megamansions several times its size.
The 39 Fairfield Pond Lane property, delivered fully furnished, sits on one of the priciest streets in the United States and was listed Sunday by billionaire hedge fund manager Zach Schreiber. The PointState Capital founder spent $24 million for it in in 2013, deed records show.
Should it trade hands for its current asking price, it would more than blow the current record holder out of the water. The most ever paid for a single parcel in the area was $115 million last year, for a waterfront, 10,500-square-foot home on nearly 9 acres at 408 Further Lane, property records show.
According to its listing, this newly listed property is priced at a breathtaking $16,053 per square foot.
The jaw-dropping ask comes after a total revamp of the property, including tearing down a two-story home that was there and replacing it with its own two-story luxury offering.
At 9,500 square feet on 3.4 acres, the property’s size is similar to an estate on the same street listed for a comparatively paltry $89 million. That property, and its private 9-hole golf course, stands among the Hamptons’ priciest listings and keeps within the range of the overall area’s highest-priced properties.
A sale of 39 Fairfield Pond Lane would pillory that price.
To be sure, other properties in the Hamptons have higher theoretical prices, with the biggest example being Ira Rennert’s waterfront compound, whose estimated value is over $425 million. With a 110,000-square-foot mansion that sits on 65 acres, it’s considered the largest living home in the US.
In fact, if the buyer of 39 Fairfield Pond Lane wants to shout, “Howdy neighbor,” when they move in, it would be to Rennert, whose estate shares the same property line.
The residence is outfitted to carry big bang for its buck. By coming fully furnished, it’s aiming for a big buying point that’s part of the nascent but growing approach in the Hamptons.
The site includes 363 feet of beachfront, a tennis court pros have played on, a heated pool and a great room where you could park a city subway car. If you were so inclined.
The seven-bedroom, eight-bathroom spread is designed to be elegant and welcoming.
“This could be a forever home,” said listing agent Terry Cohen of Compass Real Estate.
In fact, that is just what Schreiber planned, but “family life has moved elsewhere,” Cohen added.
Fairfield Pond Lane is one of the Hamptons’ premier streets, with plenty of privacy thanks to having a dead end in front of the ocean. This listing is designed to fit right in. In addition to its 9,500 square feet of interior space, 2,000 square feet of covered porches wind around.
Its 823-square-foot great room features 15-foot ceilings and panoramic views of the grounds and the Atlantic.
In sum, there are seven bedrooms, eight full bathrooms and two half baths. A recreational area includes a media lounge and, for those who like their recreation a bit more subdued, a Pilates room that comes flanked by a sauna and a spa.
The property has very humble beginnings, starting as a windswept beach house with potato fields behind it. A wood-frame cottage, with no heating and only a woodburning stove, was added in 1945.
The post Hedge fund titan asks a record $152.5M for his oceanfront Hamptons estate on just 3.4 acres appeared first on New York Post.
