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On the Auction Block: Party Ranch Will Go to Highest Bidder

Famed party pad the Diamond Ranch is up for auction on September 19th, according to Real LI. The ranch's owner, the late diamond exec Stanley Simon, was known to have a benefit or two on his 30-acre reserve and horse farm each summer, so many that his neighbors had filed a lawsuit preventing him from having further major fundraisers before his death several weeks back. The property is listed with Elliman for $3.999 million, but will be auctioned next week with bids starting at $2.045 million. A deal, no doubt, but it doesn't appear that an actual home can be built on the land. Per its listing: 'Additional structures and indoor arena can be built. The reserve offers multiple uses including recreational and agricultural. Several adjoining homes are on the market - ideal for a horse farm estate, vineyard, etc'. Bid accordingly.
· Diamond Ranch in Water Mill for Sale in Online Auction [Real LI]
· Listing: Water Mill [Elliman]