Water Mill home, sans waterfront, asks $27M

No waterfront, no problem? That’s the gamble a developer is taking in asking $27.5 million for a Water Mill home that lacks the feature that reels in the highest Hamptons prices.

The home at 677 Mecox Road has hit the market at that price, according to a Zillow listing and the Robb Report. It is still under construction by Breskin Development, a luxury home builder.

There’s plenty to like at the property, which reportedly will have ocean views from nearly every room. And there are a lot of rooms, including nine bedrooms and 11 bathrooms over three floors.

The site has 44 acres of open farmland, much of it between the residence and the water (Mecox Bay and the Atlantic Ocean). The home’s 11,000 square feet will be served by an elevator that runs from the basement to the top floor.

The first level will include a temperature-controlled walk-in wine closet and a library with a fireplace. The top floor will have a primary suite with its own deck. A gym, spa, sauna, steam room, massage room and 10-seat theater are being built in the basement.

A rooftop lounge will include a full-service bar and 180-degree views of the ocean. The grounds will feature a grass tennis court (hello, maintenance costs!), infinity edge pool and spa, pool pavilion with outdoor kitchen and 25-seat pergola. (That’s a trellis, for those not well versed in Hamptons luxury parlance.)

What the property lacks, however, is direct waterfront access, which separates the cream of the Hamptons market from the rest of the crop. There is a beach nearby, at least.

Michelle Breskin of Nest Seekers International has the listing.

Water Mill is one of the priciest parts of the Hamptons, as some recent luxury listings reflect. In July, the Water Mill compound once owned by Eastdil Secured founder Ben Lambert hit the market for $30 million.  The home, on 3.4 acres, includes an 8,000-square-foot main residence, a private dock and a tennis court.

That same month, the Rose Hill Compound in Water Mill was listed for $65 million. The nearly 13-acre estate includes a 6,000-square-foot main house, a private dock and 730 feet of frontage on Hayground Cove.

Source: https://therealdeal.com/2022/09/13/water-mill-home-sans-waterfront-asks-27m/