Looks like Ira Rennert isn't the only one doing work on this side of Daniels Lane! Turns out Silvera Properties, an upscale Hamptons development company, is well underway on a fairly typical 7,500-square-foot spec house. The shingle-style home will sit on a shy-acre, which will also play host to an outdoor fireplace, gunite pool, and pool house. And guess what, the new joint will be over five times larger than the simple ranch that used to occupy the plot (shown above). So how will all that new square footage be put to work? Try seven bedrooms, seven and a half bathrooms, and even a gymnasium. Guess all these upgrades explain why the ranch sold for a measly $2.75 million and the new house is going for just south of $8 million.
· Listing: New Construction on Daniels Lane [Saunders]
· 3 Bedroom House in Sagaponack [StreetEasy]