Francis Fleetwood-designed East Hampton home on Further Lane sells for $40M

The estate belonged to James and Ellen Marcus

By Grace Cassidy Apr 24, 2018, 7:18am EDT

The six-acre oceanfront parcel at 290 Further Lane in East Hampton has sold for $40 million, making it the most expensive single-family real estate transaction in the Hamptons since 2016.

But what about Villa Maria going for $49 million earlier this year? Technically, Vince Camuto’s historic Water Mill estate sold as two separate parcels: The main house sold for $36 million, and adjacent parcels sold for $13 million to a different buyer.

Designed by Francis Fleetwood in 1995, the 10,000-square-foot home previously belonged to James and Ellen Marcus. Before passing away in 2015, James Marcus was a retired partner at Goldman Sachs and the former board chairman of the Metropolitan Opera.

Inside, there are seven bedrooms, nine and a half bathrooms, four fireplaces, a spa wing with a whirlpool and endless-current exercise pool, a double-height entry, an elevator, and an attached three-car garage. There’s also a rooftop viewing deck, a heated pool, and a path leading out to the private ocean beach.

Back in 2016, the estate came on the market for $69 million, but took $20 million off the asking price in 2017. Last listed for $49 million under Sotheby’s International Realty agent, Frank Newbold, and Compass Real Estate’s, Ed Petrie, the home closed for $29 million less than it was originally asking.