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Unique Oceanfront Amagansett Compound is in Contract at $11.5M

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On the market since February

This interesting listing hit the market about five months ago. There’s 1.25 acres of oceanfront (a large plot for the area) containing two houses, a five bedroom 2600sf main house and a three-bedroom 1300sf guest cottage. They’re probably both teardowns. The pink house was built in 1941 for skating star Sonja Henie who was married to Dan Topping at the time.

We weren’t sure about the asking price of $11.5M, but it struck us as fair, considering the large amount of land and the opportunity for two legal dwellings. Most commenters vehemently disagreed: "Way overpriced whether for a keeper or a wrecker. By which I mean – the surrounding homes and properties simply don’t support a price anywhere near the ask, especially if you’re going to tear down and rebuild." "I know the property and house. Teardown for certain and vastly overpriced." "While I love the dunes this price point is reckless." "only worth about 7M." One wrote, "A 5 bedroom 5 bath would fit on the ocean side footprint and the garage structure near the street could be a nice pool house with guest quarters. Considering that you would probably be able to get a pool but not ocean side."

Now the place is in contract, we’ll be interested to see what’s built there.