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The Hamptons' Biggest Foreclosure Finally Sells at Auction

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It took some time, but the biggest foreclosure ever in the Hamptons, at 80 Further Lane, East Hampton, finally sold at auction on April 29. The property is 1.8 acres, with an 8100sf house built in 2000. There is a pool, basketball court, formal gardens, and what looks like a bocce court.

With $10.5M owing on the mortgage, the property sold to its mortgage holder, ES Ventures One, LLC, for the sum of $12,359,618. Seems like a bargain to us, even notwithstanding that next door is 60 Further Lane, a much larger oceanfront property, which made headlines when it sold for a recordbreaking $147M.
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