With a colossal $175 million price tag, a mansion in the Hamptons—the long favored getaway of wealthy New Yorkers—has catapulted itself into the ranks of the most expensive homes on the U.S. market.
Listed with its nine-figure asking price last week, the waterfront spread in Southampton occupies roughly eight acres nestled between the Atlantic Ocean and Shinnecock Bay.
The estate is known as Mylestone, and at its center is a 15,521 square foot, Tudor-style mansion.
“It’s the complete package,” Joseph DeSane, managing director at Bespoke Real Estate, the brokerage handling the sale, told Mansion Global. “Which is what buyers at this price point look to obtain but can rarely find.”
With interiors inspired by its ocean views, the 11-bedroom property is, unsurprisingly, loaded with amenities.
There’s 500 feet of ocean frontage, a private boardwalk to the ocean, terraces, multiple outdoor entertaining spaces, a gym, a caretaker’s cottage, a heated gunite pool, plus basketball and tennis courts, all features that contributed to the property’s price tag.
“When you have a piece of real estate that is truly one of a kind in a market that doesn’t necessarily use quantifiable metrics, a sense of value is really what someone is willing to pay based on pedigree and scarcity,” Mr. DeSane said in an email.
“With that said from offering large acreage, widespan ocean frontage, bay frontage with a dock with water access as well as a full program of large house, pool and tennis on arguably one of the most notable streets in the world—you get one of the most rarefied offerings, and the price reflects that,” he added.
Mylestone is being sold by philanthropist and former advertising executive Marcia Riklis, according to property records. It’s not clear when Ms. Riklis—who could not be reached for comment—purchased the estate, or how much she paid for it.
Right next door is a contemporary compound that was reportedly the most expensive sale in the Hamptons in 2020, after fashion designer Calvin Klein sold it for $84.4 million to billionaire hedge funder.
Article Source – Mansion Global