$28M for Eight Acres (Plus Teardown) on Meadow Lane

No decorators were injured in the design of this house, that's for sure. The house is a 7500sf mishmash of bad and no taste that's almost certainly destined for a wrecking ball, so let's just consider the land value. Eight acres of land with 330 feet of oceanfront is pretty generous, but since the scrubby dunes of the beach are so wide at that point on Meadow Lane, how much of the land is usable/buildable is in question. Still, looking on Bing maps, there's plenty of room to build a tennis court, should the new owner so desire, and there is a pool, although it's not pictured in the listing. All in all, $28M is probably a fair price. This property isn't in the best part of Meadow Lane (which reminds us of Lady Bracknell talking about the unfashionable side of Belgrave Square); Robert Sillerman sold 1116 Meadow Lane, with only 3.66 acres, for $37M last year. What do you think of this property?

· Ocean Front Meadow Lane Southampton [Corcoran]