Wainscott estate on over an acre of land with pond views seeks $16M

It’s just down the road from the recently sold home of former J. Crew CEO Mickey Drexler

By Grace Cassidy May 30, 2018, 9:00am EDT

Located at 60 Beach Lane in Wainscott—right down the road from the recently sold estate of former J. Crew CEO Mickey Drexler—is a 7,300-square-foot estate that just landed on the market for $15,995,000 under Corcoran Group’s Michael Schultz and Susan Ryan.

The nearly $16 million price tag will afford the new owner eight bedrooms and seven and a half bedrooms between two floors, an open floorplan, double-height ceilings in the great room, and 1.2 acres of land. The property has views over Wainscott Pond and the surrounding reserve, and is less than a half-mile from the ocean at the end of Beach Lane.

Outside, there’s a heated gunite pool and spa.

The home was built in 1992 and last sold in 1995 for $3.42 million.

As far as the price is concerned, we’re not totally sure how $16 million is going to go. Drexler’s 2.3 acres of oceanfront sold for $15 million after originally coming on the market in 2014 for $26.5 million. Granted, the home on the property was a significantly smaller 3,500 square feet, most of our readers thought that it was going to get torn down to make room for a newer beachfront home anyway.

And while this property is definitely a close distance to the ocean, it isn’t oceanfront and the property is half the size of Drexler’s. And as far as the home is concerned, it definitely needs some touching up on the interiors, though the kitchen looks relatively new.

What do our readers think? Do you think $16 million is a fair price? How would you renovate the home?