Looking to buy soil, rocks and a view in the Hamptons? Have we got some open space for you. After Newsday's Real LI blog noted yesterday that Town & Country Real Estate is representing just under nine acres of oceanfront property in Amagansett for $200 million, we thought we'd delve deeper into seductive world of undeveloped property listings. If you hadn't done the math already, the Amagansett parcel is worth about $22 million an acre, reminding us that land sales on an island with a finite amount of terra firma are rather remarkable.
Amagansett, East Hampton's more docile neighbor, is also home to 9.4 acres of vacant land in offered at $110 million by Neil Bersin of Prudential Douglas Elliman Real Estate. This property, consisting five oceanfront acres in four parcels on Montauk Highway, is being sold as a package. To put things in perspective, the current owners paid $1.7 million for the land in 1999. Not bad.
Elsewhere on the East End, we've found a (named!) spot of land called Old Towne in Southampton - 38 acres of untouched land at $150 million, perfect for the "ultimate private or family compound" . A 26-acre spread at 501 Ocean Road in Bridgehampton offered for just under $50 million, and a $47 million parcel at 231 Hedges Lane in Sagaponack. Rounding out our list is a much more modest $7.9 million piece of land in Bridgehampton that caught our eye with its 20 acres of rolling hills and 3 acre private lake. Sometimes, looking at the ocean isn't everything.
· High Prices for Oceanfront Property in Amagansett [Real LI]