Rare investment opportunity in Hampton Bays! This waterfront compound offers direct Shinnecock Bay views on Penny Pond with 80 feet of frontage, a 40-foot dock, and sandy beach access. Situated on 0.44 acres, the property features a two-bedroom, two-bath main house with cathedral ceilings, a gourmet kitchen, and a living room with a fireplace. The home opens directly to the water with room for a boat. Approved architectural plans allow for renovation and expansion of existing structures, including a separate guest cottage and an 18’ x 36’ gunite pool. Landscaped grounds include a full sprinkler system. This versatile property offers potential to reposition as a boutique rental compound, operate as a seasonal retreat, or redevelop into a luxury waterfront estate. Minutes from ocean beaches at the gateway to the Hamptons. Available June 1 through Labor Day. Call for additional details.