Oceanfront Montauk property on nearly 36 acres cuts $8.5M from asking price

It’s now asking $39.5M

By Grace Cassidy Nov 1, 2018, 11:21am EDT

Just last month, we featured the the extremely private oceanfront home on nearly 36 acres of reserve at 42 Old Montauk Highway in Montauk. At the time, the home was listed for $48 million, but after a recent price cut, the property is now asking $39.5 million.

The property was purchased in 1992 by frame dealer Eli Wilner and his wife for just $630,000. However, at the time, there were absolutely no permits in place and buying the property without building permits was a risk. But things worked in their favor and the couple was able to build the existing stucco home with architect Frank Hollenbeck and Men at Work Builders.

Since the majority of the property is private reserve, prospective buyers would most likely not be able to build or expand. But with everything the property has to offer—from 400 feet of ocean frontage, ocean- and meadow-view trails, and a 2-acre pond with a dock—the listing is a unique opportunity to live somewhere totally private and secluded in Montauk.

The 7,000-square-foot house offers five bedrooms, five bathrooms, four gas fireplaces, and hard-carved doors throughout—including sliding wood doors in the living room that are carved in the likeness of murals found on the Normandie luxury cruise ship. There’s also heated marble floors throughout, a winding wood staircase, floor-to-ceiling windows, an elevator, and a home theater in the basement.

Kathleen Coumou from Christie’s International Real Estate and Martha Gundersen from Brown Harris Stevens represents the listing.