Ever since the Peconic Land Trust decided to salvage it, this nondescript foursquare-style farmhouse has really captured the public's attention. And rightfully so! Starting last spring, the farmhouse took an epic journey from its original home—a tract of recently subdivided farmland up the road—to a new spot on the tony Hedges Lane. Along the way, it picked up a few enemies, like Goldman honcho Lloyd Blankfein, who allegedly thinks the house will devalue his neighborhood, and even an unlikely restraining order! But now that the dust is settled, the Peconic Land Trust is looking to sell the home, along with an acre of farmland, for $2.5 million. But don't grab the checkbook just yet, there're a few catches.
On one hand, the foursquare definitely represents a "rare opportunity" to live in one of the most exclusive sections of Sagaponack on a swath of land surrounded by preserve. On the other, it also presents a challenge: as it stands, the home lacks a foundation, heating, and other luxuries like a swimming pool. Add to that "certain covenant restrictions and facade easements" for a little extra confusion. But there's definitely potential here, including room for expansion and a relatively inexpensive price tag. So we say buy this foursquare; become the mayor of Sagaponack!
· Listing: Historic Hedges Lane Farmhouse [BHS]
· All Sagaponack Foursquare coverage [Curbed Hamptons]