Most expensive Hamptons home sales of 2023 led by $112.5 million Southampton estate
The most expensive home sale on Long Island in 2023 was the $112.5 million deal for Mylestone at Meadow Lane, an 11-bedroom mansion with 500 feet of oceanfront.
Mylestone joins a short list of homes that have ever sold for $100 million in the Hamptons. But overall, 2023 was a more muted year for ultra-luxury real estate in the Hamptons after a period during the COVID-19 pandemic when prices soared on the East End.
Waterfront estates still commanded eye-popping sums but there were fewer transactions clustered near the top of the market. The 10th highest sale was for $28.1 million in 2023 compared with $40 million the previous year, according to a Newsday analysis of data from real estate appraiser Jonathan Miller, property records and media reports.
There are four sales on this year’s list that went for $50 million or more, the fewest since 2020. But from 2017 to 2019, there weren’t any homes that sold for that much.
“The pandemic era was this turning point where the top of the market was revalued, it was restructured. That was consistent with this longer-term trend of greater wealth at the top of the hierarchy. Now it’s being reflected in housing prices,” said Miller, CEO of Manhattan appraisal firm Miller Samuel, who tracks sales of $50 million or greater around the United States. “This phenomenon nationally began in about 2014, so this is the 10th year of elevated sales activity at higher price points than we’d ever seen before.”
The top sales stand apart from the broader Hamptons market, which slowed down last year because of a combination of rising interest rates and a shortage of listings. While many Hamptons buyers don’t use a mortgage, higher interest rates can cut into the investment income and corporate profits that help drive the Hamptons real estate market. The median price among all Hamptons sales from July to September was $1.4 million, which was down 11.4% from the same period a year earlier.
The number of home sales in the Hamptons was down 38.5% year-to-date through the end of September, according to the latest quarterly data available from Miller Samuel and Douglas Elliman.
“Real estate out here is the economic driver,” said Judi Desiderio, CEO of Town & Country Real Estate, which has eight offices on the East End. “When you sell a house, you hire a painter, a landscaper, a decorator. You buy furniture, you buy curtains, sometimes you change a bathroom or kitchen. You employ so many people with every sale that happens out here. All those other services are definitely negatively impacted. It’s not just the lawyers, the brokers and the title people — those that are immediately connected. There’s all these ancillary things.”
There's reason to believe more properties will change hands in 2024. The Federal Reserve signaled in December that it is likely done raising its benchmark rate and its policymakers anticipate cutting the key rate three times this year. The announcement moved stock prices higher at the end of last year.
The Hamptons market tends to perform best when there is less fear of economic upheaval, so a decline in interest rates, as inflation moves closer to the Fed’s target of 2%, could lead to a stronger 2024, Desiderio said.
“We all got a holiday gift,” Desiderio said of the news of impending rate cuts.
Still, Miller warns not to draw too many conclusions about the Long Island housing market — or even the broader Hamptons market — from these handful of top sales.
“This is a circus sideshow and has very little to do with the strength or weakness of the local housing market,” he said. “Prices at this level represent more of a national or global [ultra-luxury] housing market than it does something pertinent to Long Island. It’s fun to watch, but it doesn’t reflect the condition of housing for mere mortals.”
Brokering deals at the highest echelon of the market requires finding the right property to suit a buyer and moving fast, said Ed Petrie, a real estate broker at Compass who was involved in three of this year’s top 10 deals.
“Your successful years are based more on properties coming available. We always have customers. We don’t always have products,” Petrie said. “… It can take years, and I think the buyers that understand that, who are willing to move quickly are the ones who wind up with these properties.”
Here are the 10 most expensive Long Island home sales of 2023. It reflects deals that were recorded as of Dec. 15.
Mylestone, as this estate is known, is a double waterfront estate on 8 acres nestled between the Atlantic Ocean and Shinnecock Bay. The 11-bedroom, more than 15,000-square-foot mansion has 500 feet of shoreline in its backyard as well as a caretaker’s cottage and five-car detached garage.
It had been listed for as much as $175 million in 2021. The highest ever sale for a Long Island home was billionaire Barry Rosenstein’s $137 million purchase of an 18-acre East Hampton home on Further Lane in 2014.
What does it take for a home to sell for more than $100 million? Joseph De Sane, managing director at Bespoke Real Estate, which listed the property, said he often conveys the value of real estate of this caliber by drawing comparisons to other luxury items.
"I always find myself thinking about the art world," said De Sane, a painter himself, noting that Leonardo Da Vinci's "Salvator Mundi" sold for $450 million in 2017. "When you talk about owning real property, lush acres and 500 feet of ocean frontage — talk about something that is iconic and lasts forever … That's a pretty incredible value in what you're getting compared to other worlds and other industries."
The gated property has a private boardwalk, a deepwater dock on the bayside and a 70-foot heated gunite pool. Across the lawn from the mansion is an artist-made playground, tennis court and basketball court.
Inside, there are panoramic water views, custom millwork and three fireplaces as well as a chef’s kitchen with commercial-grade appliances and a 660-square-foot terrace, according to the listing brochure from Bespoke. The seller was Marcia Riklis, a philanthropist and advertising executive, according to property records. Real estate agent Michael Koeneke, of Compass, brought the buyer, who purchased the home through Meerkat LLC.
These two adjoining parcels are located on a private road off Further Lane, with the southernmost piece of property featuring a 5,500-squre-foot house with about 300 feet of oceanfront.
The off-market sale, which closed last January, included a 5.4-acre oceanfront lot, which sold for $77,775,000 and a 1.3-acre inland property priced at $13,725,000.
The seller received more than double the $45 million paid the last time these properties sold in 2020. The Wall Street Journal reported the seller was New York City real estate developer Peter Fine.
Previous listings of the home describe amenities including a 50-foot heated pool and private path to the beach, a guest cottage with ocean views and an oversized terrace. Those descriptions note that zoning rules allow for larger homes to be built on the primary and secondary lots.
This East Hampton estate is notable for both the size of the property and its history. Known as Lasata, the 8,500-square-foot home was previously owned by the Bouvier family and former first lady Jacqueline Kennedy Onassis spent childhood summers there.
The 7.15-acre property, located minutes from the No. 2 sale on Windmill Lane, was the highest-priced non-waterfront sale this year in the Hamptons. Fashion designer and film director Tom Ford purchased the home from film and commercial producer David Zander, according to The Wall Street Journal. Zander, through an LLC, paid just $24 million to acquire the home in 2018.
Built in 1917, the home was restored in 2007 and in 2019 with an eye toward preserving its legacy. Lasata features an eight-bedroom main house and a two-bedroom guest cottage, plus a pool with a pool house.
Ed Petrie, of Compass, and Corcoran’s Eileen O’Neill represented the seller. Frank E. Newbold, of Sotheby’s International Realty brought the buyer.
It was just two years ago that this Further Lane home fetched $55 million from Peloton co-founder John Foley. Unlike some of the other entries on this list, the five-bedroom home sold for $4 million less this time around.
The custom, 6,100-square-foot home on 4 acres has second-floor ocean views as well as multiple sundecks to take in the property’s 400 feet of shoreline, according to listing information from the last time it sold in 2021.
Catherine Juracich, of Corcoran, represented the buyer and seller in the transaction.
Built in 1925, this Spanish colonial is dubbed Cima del Mundo and is located between Georgica Beach and Lily Pond.
The home, set on 2.7 acres, has eight bedrooms and features striking tile work. There’s also a double-height living room with an interior balcony and several terraces. The house, renovated in 1994, opens up seamlessly to its oceanfront backyard, with 400 feet of property along the beach.
Petrie said the sunset views over Lily Pond on the property’s north side might be more spectacular than its ocean views. The home has a “ha-ha” wall, a type of land feature that traditionally obscured livestock from view, on its north side to keep cars out of sight.
“It gives that extra layer of privacy that makes you feel like you’re on 30 acres,” said Petrie, whose real estate team, which includes his sons James Petrie and Charles Forsman, listed the home and found the buyer.
Located between the ocean and Georgica Cove, this 1926 home spans 6,100 square feet on 1½ acres. It has a boardwalk to its private stretch of 170 feet of Georgica Beach.
The blue-accented home was built by Roger Bullard, the architect of the nearby Maidstone Club, and has water views throughout the first and second floors. It includes a chef’s kitchen and a separate three-car garage.
Peter Morton, co-founder of Hard Rock Cafe, bought the home from art and antique dealers Barbara and Lloyd Macklowe, according to The Wall Street Journal. The Macklowes had purchased the house for about $3.5 million in 1992, according to property records.
Douglas Elliman’s Kyle Rosko and Marcy Braun listed the home. The Petrie team brought the buyer.
This nearly 8,000-square-foot mansion offers the same prime ocean views as other homes on the list but with a modern design.
The six-bedroom home is located on 2.64 acres and includes a heated gunite swimming pool, a clay tennis court and private boardwalk to its 191 feet of waterfront. The house had last sold in 1997 for $6.5 million, according to public records.
The property changed hands between two LLCs, with the selling company tied to Susan Lloyd, widow of art dealer Frank Lloyd, according to Mansion Global.
Bespoke Real Estate represented both sides in the transaction.
This 5,500-square-foot contemporary home is the lone Bridgehampton entry on the list and sits on about an acre.
The six-bedroom house, built in 2020, is located between Mecox Bay and the ocean, which can be seen through floor-to-ceiling windows. The deck includes an ocean-side outdoor kitchen and an infinity pool, according to listing information.
The seller was James Carney, founder of the Manhattan hedge fund Parplus Partners, according to property records.
Hedgerow Exclusive Properties brokered the off-market sale. Erica Grossman of Douglas Elliman and Catherine Juracich of Corcoran brought the buyer, whose identity was hidden by an LLC.
This 8,500-square-foot home is located on 2.3 acres just down the road from the beach with deeded access.
Its grounds include a heated pool, pool house, tennis court, mahogany decking, lush landscaping as well as an apple orchard, according to an earlier listing of the home.
The anonymous seller received more than double the price paid just three years ago, when it sold for $14 million.
Bespoke Real Estate brokered the off-market sale. Christopher Covert, of Modlin Group, represented the buyer.
Located in the estate section of Southampton village, this shingle-style home on Taylor Creek sits on 4.4 acres.
The six-bedroom, nearly 5,200-square-foot home faces west for sunset views and includes a pool, a dock and a tennis court.
Tim Davis, of Corcoran, and Hans Von Schirach, of Saunders & Associates, listed the house. The buyer was represented by Christopher Burnside and Aubri Peele, of Brown Harris Stevens, as well as Harald Grant, of Sotheby’s International Realty.
With Caroline Curtin
The most expensive home sale on Long Island in 2023 was the $112.5 million deal for Mylestone at Meadow Lane, an 11-bedroom mansion with 500 feet of oceanfront.
Mylestone joins a short list of homes that have ever sold for $100 million in the Hamptons. But overall, 2023 was a more muted year for ultra-luxury real estate in the Hamptons after a period during the COVID-19 pandemic when prices soared on the East End.
Waterfront estates still commanded eye-popping sums but there were fewer transactions clustered near the top of the market. The 10th highest sale was for $28.1 million in 2023 compared with $40 million the previous year, according to a Newsday analysis of data from real estate appraiser Jonathan Miller, property records and media reports.
There are four sales on this year’s list that went for $50 million or more, the fewest since 2020. But from 2017 to 2019, there weren’t any homes that sold for that much.
“The pandemic era was this turning point where the top of the market was revalued, it was restructured. That was consistent with this longer-term trend of greater wealth at the top of the hierarchy. Now it’s being reflected in housing prices,” said Miller, CEO of Manhattan appraisal firm Miller Samuel, who tracks sales of $50 million or greater around the United States. “This phenomenon nationally began in about 2014, so this is the 10th year of elevated sales activity at higher price points than we’d ever seen before.”
The top sales stand apart from the broader Hamptons market, which slowed down last year because of a combination of rising interest rates and a shortage of listings. While many Hamptons buyers don’t use a mortgage, higher interest rates can cut into the investment income and corporate profits that help drive the Hamptons real estate market. The median price among all Hamptons sales from July to September was $1.4 million, which was down 11.4% from the same period a year earlier.
The number of home sales in the Hamptons was down 38.5% year-to-date through the end of September, according to the latest quarterly data available from Miller Samuel and Douglas Elliman.
“Real estate out here is the economic driver,” said Judi Desiderio, CEO of Town & Country Real Estate, which has eight offices on the East End. “When you sell a house, you hire a painter, a landscaper, a decorator. You buy furniture, you buy curtains, sometimes you change a bathroom or kitchen. You employ so many people with every sale that happens out here. All those other services are definitely negatively impacted. It’s not just the lawyers, the brokers and the title people — those that are immediately connected. There’s all these ancillary things.”
There's reason to believe more properties will change hands in 2024. The Federal Reserve signaled in December that it is likely done raising its benchmark rate and its policymakers anticipate cutting the key rate three times this year. The announcement moved stock prices higher at the end of last year.
The Hamptons market tends to perform best when there is less fear of economic upheaval, so a decline in interest rates, as inflation moves closer to the Fed’s target of 2%, could lead to a stronger 2024, Desiderio said.
“We all got a holiday gift,” Desiderio said of the news of impending rate cuts.
Still, Miller warns not to draw too many conclusions about the Long Island housing market — or even the broader Hamptons market — from these handful of top sales.
“This is a circus sideshow and has very little to do with the strength or weakness of the local housing market,” he said. “Prices at this level represent more of a national or global [ultra-luxury] housing market than it does something pertinent to Long Island. It’s fun to watch, but it doesn’t reflect the condition of housing for mere mortals.”
Brokering deals at the highest echelon of the market requires finding the right property to suit a buyer and moving fast, said Ed Petrie, a real estate broker at Compass who was involved in three of this year’s top 10 deals.
“Your successful years are based more on properties coming available. We always have customers. We don’t always have products,” Petrie said. “… It can take years, and I think the buyers that understand that, who are willing to move quickly are the ones who wind up with these properties.”
Here are the 10 most expensive Long Island home sales of 2023. It reflects deals that were recorded as of Dec. 15.
1. $112.5 million: 700 Meadow Lane, Southampton
Mylestone, as this estate is known, is a double waterfront estate on 8 acres nestled between the Atlantic Ocean and Shinnecock Bay. The 11-bedroom, more than 15,000-square-foot mansion has 500 feet of shoreline in its backyard as well as a caretaker’s cottage and five-car detached garage.
It had been listed for as much as $175 million in 2021. The highest ever sale for a Long Island home was billionaire Barry Rosenstein’s $137 million purchase of an 18-acre East Hampton home on Further Lane in 2014.
What does it take for a home to sell for more than $100 million? Joseph De Sane, managing director at Bespoke Real Estate, which listed the property, said he often conveys the value of real estate of this caliber by drawing comparisons to other luxury items.
"I always find myself thinking about the art world," said De Sane, a painter himself, noting that Leonardo Da Vinci's "Salvator Mundi" sold for $450 million in 2017. "When you talk about owning real property, lush acres and 500 feet of ocean frontage — talk about something that is iconic and lasts forever … That's a pretty incredible value in what you're getting compared to other worlds and other industries."
The gated property has a private boardwalk, a deepwater dock on the bayside and a 70-foot heated gunite pool. Across the lawn from the mansion is an artist-made playground, tennis court and basketball court.
Inside, there are panoramic water views, custom millwork and three fireplaces as well as a chef’s kitchen with commercial-grade appliances and a 660-square-foot terrace, according to the listing brochure from Bespoke. The seller was Marcia Riklis, a philanthropist and advertising executive, according to property records. Real estate agent Michael Koeneke, of Compass, brought the buyer, who purchased the home through Meerkat LLC.
700 Meadow Lane, Southampton. Credit: Bespoke Real Estate
2. $91.5 million: 26-32 Windmill Lane, East Hampton
These two adjoining parcels are located on a private road off Further Lane, with the southernmost piece of property featuring a 5,500-squre-foot house with about 300 feet of oceanfront.
The off-market sale, which closed last January, included a 5.4-acre oceanfront lot, which sold for $77,775,000 and a 1.3-acre inland property priced at $13,725,000.
The seller received more than double the $45 million paid the last time these properties sold in 2020. The Wall Street Journal reported the seller was New York City real estate developer Peter Fine.
Previous listings of the home describe amenities including a 50-foot heated pool and private path to the beach, a guest cottage with ocean views and an oversized terrace. Those descriptions note that zoning rules allow for larger homes to be built on the primary and secondary lots.
32 Windmill Lane, East Hampton. Credit: Newsday
3. $52 million: 121 Further Lane, East Hampton
This East Hampton estate is notable for both the size of the property and its history. Known as Lasata, the 8,500-square-foot home was previously owned by the Bouvier family and former first lady Jacqueline Kennedy Onassis spent childhood summers there.
The 7.15-acre property, located minutes from the No. 2 sale on Windmill Lane, was the highest-priced non-waterfront sale this year in the Hamptons. Fashion designer and film director Tom Ford purchased the home from film and commercial producer David Zander, according to The Wall Street Journal. Zander, through an LLC, paid just $24 million to acquire the home in 2018.
Built in 1917, the home was restored in 2007 and in 2019 with an eye toward preserving its legacy. Lasata features an eight-bedroom main house and a two-bedroom guest cottage, plus a pool with a pool house.
Ed Petrie, of Compass, and Corcoran’s Eileen O’Neill represented the seller. Frank E. Newbold, of Sotheby’s International Realty brought the buyer.
121 Further Lane, East Hampton. Credit: Geir Magnusson
4. $51 million: 442 Further Lane, Amagansett
It was just two years ago that this Further Lane home fetched $55 million from Peloton co-founder John Foley. Unlike some of the other entries on this list, the five-bedroom home sold for $4 million less this time around.
The custom, 6,100-square-foot home on 4 acres has second-floor ocean views as well as multiple sundecks to take in the property’s 400 feet of shoreline, according to listing information from the last time it sold in 2021.
Catherine Juracich, of Corcoran, represented the buyer and seller in the transaction.
5. $45 million: 201 Lily Pond Lane, East Hampton
Built in 1925, this Spanish colonial is dubbed Cima del Mundo and is located between Georgica Beach and Lily Pond.
The home, set on 2.7 acres, has eight bedrooms and features striking tile work. There’s also a double-height living room with an interior balcony and several terraces. The house, renovated in 1994, opens up seamlessly to its oceanfront backyard, with 400 feet of property along the beach.
Petrie said the sunset views over Lily Pond on the property’s north side might be more spectacular than its ocean views. The home has a “ha-ha” wall, a type of land feature that traditionally obscured livestock from view, on its north side to keep cars out of sight.
“It gives that extra layer of privacy that makes you feel like you’re on 30 acres,” said Petrie, whose real estate team, which includes his sons James Petrie and Charles Forsman, listed the home and found the buyer.
201 Lily Pond Lane, East Hampton. Credit: Lena Yaremenko
6. $35 million: 51 West End Road, East Hampton
Located between the ocean and Georgica Cove, this 1926 home spans 6,100 square feet on 1½ acres. It has a boardwalk to its private stretch of 170 feet of Georgica Beach.
The blue-accented home was built by Roger Bullard, the architect of the nearby Maidstone Club, and has water views throughout the first and second floors. It includes a chef’s kitchen and a separate three-car garage.
Peter Morton, co-founder of Hard Rock Cafe, bought the home from art and antique dealers Barbara and Lloyd Macklowe, according to The Wall Street Journal. The Macklowes had purchased the house for about $3.5 million in 1992, according to property records.
Douglas Elliman’s Kyle Rosko and Marcy Braun listed the home. The Petrie team brought the buyer.
51 West End Road, East Hampton. Credit: Dronehub
7. $34,750,000: 140 Murray Lane, Southampton
This nearly 8,000-square-foot mansion offers the same prime ocean views as other homes on the list but with a modern design.
The six-bedroom home is located on 2.64 acres and includes a heated gunite swimming pool, a clay tennis court and private boardwalk to its 191 feet of waterfront. The house had last sold in 1997 for $6.5 million, according to public records.
The property changed hands between two LLCs, with the selling company tied to Susan Lloyd, widow of art dealer Frank Lloyd, according to Mansion Global.
Bespoke Real Estate represented both sides in the transaction.
140 Murray Lane, Southampton. Credit: Bespoke Real Estate
8. $33,480,000: 35 Dune Road, Bridgehampton
This 5,500-square-foot contemporary home is the lone Bridgehampton entry on the list and sits on about an acre.
The six-bedroom house, built in 2020, is located between Mecox Bay and the ocean, which can be seen through floor-to-ceiling windows. The deck includes an ocean-side outdoor kitchen and an infinity pool, according to listing information.
The seller was James Carney, founder of the Manhattan hedge fund Parplus Partners, according to property records.
Hedgerow Exclusive Properties brokered the off-market sale. Erica Grossman of Douglas Elliman and Catherine Juracich of Corcoran brought the buyer, whose identity was hidden by an LLC.
35 Dune Rd., Bridgehampton (center). Credit: Newsday
9. $29 million: 31 Two Mile Hollow Rd., East Hampton
This 8,500-square-foot home is located on 2.3 acres just down the road from the beach with deeded access.
Its grounds include a heated pool, pool house, tennis court, mahogany decking, lush landscaping as well as an apple orchard, according to an earlier listing of the home.
The anonymous seller received more than double the price paid just three years ago, when it sold for $14 million.
Bespoke Real Estate brokered the off-market sale. Christopher Covert, of Modlin Group, represented the buyer.
Two Mile Hollow Rd., East Hampton. Credit: Bespoke Real Estate
10. $28,075,000: 1 Boatmans Lane, Southampton
Located in the estate section of Southampton village, this shingle-style home on Taylor Creek sits on 4.4 acres.
The six-bedroom, nearly 5,200-square-foot home faces west for sunset views and includes a pool, a dock and a tennis court.
Tim Davis, of Corcoran, and Hans Von Schirach, of Saunders & Associates, listed the house. The buyer was represented by Christopher Burnside and Aubri Peele, of Brown Harris Stevens, as well as Harald Grant, of Sotheby’s International Realty.
1 Boatmans Lane, Southampton. Credit: Courtesy of Corcoran
With Caroline Curtin
Jonathan LaMantia covers residential real estate and other business news on Long Island. He previously covered the business of health care for Crain's New York Business.
Rain forecast for LI ... Jessica Tisch named NYPD commissioner ... Stella Ristorante closing ... Planning a Thanksgiving dinner
Rain forecast for LI ... Jessica Tisch named NYPD commissioner ... Stella Ristorante closing ... Planning a Thanksgiving dinner
