Big Reveal: How Much for a Compound in the Amagansett Lanes?

Address: 82, 86 and 90 Hedges Lane, Amagansett
Price: $12,275,000
Too easy this week, although people complained about the lack of photos. One commenter wrote, "Whoever the future buyer is will certainly demolish any structure on these properties. None of buildings are anywhere near commensurate with the value of the land nor are they historic. The properties are not currently configured as a "compound" - you would not say "hey nice compound" if you drove by. The questions are - how many certificate of occupancies does it have? How many livable structures can be built on the property? What is 1.5 acres in the Lanes worth? I saw the listing so I know what they're asking - I think it is worth 9-10 million - call it 9.5." Our take: if there are four separate houses already on the property, then four can be built under grandfathering laws. And the three properties can be purchased separately. Guess we'll see what happens.

· New Amagansett Lanes Compound! [Saunders]
· How Much for a Family Compound in the Amagansett Lanes? [CH]