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Sagaponack Greens Spec House Hits Market for $19.5M

Speaking of Michael Davis, a spec house in the notable Sagaponack Greens subdivision by the tony East End builder has entered the marketplace for a staggering $19.5 million. The estate will encompass a 2.3-acre plot, one of the subdivision's larger parcels, and includes a 7,000-square-foot main house and a circa 1840s guest house. (The antique structure, which was moved to the property, was a part of the original Hedges farm group.) Per previous property records, it appears Davis picked up the parcel in February of '10 for $5 million. Hello profit! Today, the remaining Sagaponack Greens parcels fall in the $5 to $6 million range.

· Property for Sale: 243 Hedges Lane [Michael Davis]