Laffey Fine Homes Sells Gold Coast Muttontown Estate to Chinese Buyer for $20,000,000
Posted by Laffey Fine Homes — February 19, 2015
GREENVALE, NY - The historic Easton Estate on Long Island’s Gold Coast in Muttontown, NY was sold in a deal brokered by The Friedman Team at Laffey Fine Homes for $20 million to an anonymous Chinese buyer.
The Easton Estate, which consists of 98.8 acres, was formerly purchased by the Hall family in 1952, and borders the 500 acre Mutton Preserve. The property’s original 15,000 square-foot mansion dates back to 1931, when it was built for Evelyn Field Suarez by the Chicago country house architect David Adler. Suarez was the former wife of department store heir Marshall Field III.
The buyer of the property plans to make the property his residence, but no further development has been planned yet. The property is zoned for single-family homes on three-acre lots, and the estate can be subdivided to yield about 20 homes. New custom-built homes on similarly sized lots sell for around $7 million each.
Rudi Friedman and Jason Friedman of Laffey Fine Homes represented the buyer in the deal, which closed last month. This is not the first large deal brokered by the mother-son team, whom specializes in selling large lots of land. “Rudi and Jason Friedman have established themselves as the “premier” brokers on Long Island to successfully sell the largest land parcels.” said Emmett Laffey, Principal Broker at Laffey Fine Homes. “Their current project in negotiations right now will be even larger. Their international clientele of buyers primarily from Hong Kong are continuously pursuing other large investment opportunities.”
The Friedman Team brokered the sale of Inisfada, the 33-acre former St. Ignatius retreat in North Hills, to a Hong Kong Investor for $36.5 million in 2013. In addition, the Friedman team sold the 19.44-acre Allen Estate in Sands Point for $13.28 million in 2013. The Allen Estate, formerly owned by Charles Robert Allen of New York based investment bank Allen & Co, featured over 600 feet of waterfront bulkhead and a 400-foot deep-water dock.
About Laffey Fine Homes
Established in 1974, Laffey Fine Homes is Long Island’s largest independently-owned family real estate company with 16 offices in Nassau, Suffolk & Queens Counties. Headquartered in Greenvale, New York, Laffey Fine Homes and its wholly-owned subsidiaries provide all of the tools and resources that buyers and sellers of residential real estate need to experience a smooth and timely closing. The firm closes over $1 Billion worth of real estate annually. For more information, visit www.laffey.com.