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Houses at Sagaponac Development Is 'Still Inching Along'

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As mentioned earlier, there's a new house up for grabs in the somewhat troubled Houses at Sagaponac development in Sagg North. At $3.5 million, the Keenan/Riley House, which was named after its starchitects, is the eighth house to go up in the development. With a site plan that calls for 32 homes, the Houses at Sagaponac is one quarter of the way there! But the project has been afoot since 2001, what's taking so long? Sadly, the project's original developer, Harry Brown—a "former honcho at 20th Century Fox"—passed away in 2005. So things were put on hold until the remaining homesites were sold to a new team in 2007. According to the Real Deal, Other glitches include an "unfashionable" north of the highway location that's "near the East Hampton airport," and an exclusive agreement with Sotheby's that has possibly discouraged showings. Luckily, says one of the developers, the Keenan/Riley House is "moving to an open listing," which "should also stir up interest amongst brokers."

· Sotheby's loses home at high-profile Houses at Sagaponac to open market [TRDNY]
· Architects of the Houses at Sagaponac [Official Site]