This property debuted on the market back in March of this year asking $8.995M. It offers 0.61 of an acre of land with 65' of oceanfront along with a tiny teardown. The previous Sotheby’s listing said that the "building envelope affords a 2700+/- sq. ft. without variances." We asked if the property would be scooped up fast and commenters replied with a resounding no. They were correct.
Now the property is listed with Compass and it’s asking $1M more. However, it sounds as if it’s much further along in the permitting process: “variances and ZBA approvals are now in place.” Also, the property now includes “plans for a world renowned Stelle Lomont Rouhani Architects 6,700sf modern sustainable home” including an “oceanfront 34 x 16 pool and spa.”
Now do you think the property will be scooped up fast? We’re really not sure the numbers are adding up, given construction costs. It’s still just over half an acre: you could get a similar property on an acre for $13M on Flying Point Road, for example. No pool there and a smaller house. What do you say?
77 Dune Road, Bridgehampton