Two East Hampton transactions recently (and quietly) joined the ranks of the area's biggest sales for 2012. 54 Hwy Behind The Pond and its neighbor, 58 Hwy Behind The Pond, traded for $20M and $25M, respectively. Making the pickups even more noteworthy is that the pair went to the same individual. According to HamptonsMarketWire (the blog of RoseHip Partners), after the $20M pickup, "the buyer also closed on 58 Highway Behind the Pond, owned by the same seller of the aforementioned 54." Meaning: Someone just shelled out $45M for about 2.7 acres of non-oceanfront property (the homes are ripe candidates for the bulldozer) in East Hampton?making the combination the year's biggest sale by an incredible margin.* If that's not already impressive enough, get this: The seller originally shelled out just of $6.675M for both addresses.
Now if anyone out there knows who the mystery buyer is (we're guessing they're in finance), feel free to spill the beans with a message to Hamptons@Curbed.com.
· 54 Highway Behind the Pond – Just Half the Story [HamptonsMarketWatch]
· Real Estate Transfers 10/22/2012 - 10/27/2012 [Hamptons.com]
· Real Estate Transfers 10/28/2012 -11/03/2012 [Hamptons.com]
*Considering this was two separate transactions, we were a little hesitant to bestow the title of Year's Biggest Sale. However, since the same seller and buyer were involved in both, we're calling it that way. Feel free to argue in the comments.
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