EAST HAMPTON, NY - Town & Country Real Estate’s 2014 Top 10 Most Expensive Sales Report opens with the sale that shattered ceilings across the country.
Barry Rosenstein’s purchase of the Estate of Andrew Gordon from his partner Chris Browne logged the most expensive residence in the country at $147m. Since Town & Country bases our Top 10 Report on individual parcels, this home at 62 Further Lane in East Hampton Village traded at $97m for the #1 spot.
Add to that the two contiguous 3.7-acre lots which totaled an additional $50m and the purchase of approximately 17 acres from sea to street was $147m. This broke the US record and blew by the previous record set by Ron Baron of the deMenil Carpenter property for $103m which was also sea to street on Further Lane back in 2007.
In 2013, Vince Camuto sold his Southampton oceanfront home at 16 Gin Lane with 4 additional vacant lots for a total of $75m. Again since T&C bases the Top 10 on individual parcels, the 16 Gin Lane sale of the oceanfront home was just $35m, and therefore was trumped by Steve Cohen’s purchase of 52 Further Lane, East Hampton which sold for $62.5m that same year.
This year, the notable statistic for those of us who are numbers junkies, is the one holding the #10 position of 19 Robertson Drive, North Haven. The 6.2 acre DeMato residence on Noyac Bay sold for $31,567,350. It’s not just the dollar amount — it’s the fact that the #10 spot was held by a sale over $30m AND it wasn’t oceanfront. Compare that to the #10 spot in 2013 of 450 Gin Lane, SHV at $18.750m and you see why 2014 is such a record breaking year for real estate. 2007 was the last time we saw the high end experience such heightened activity and that year the #10 spot was 1190 Meadow Lane, SHV at $23,770,500. In 2009, after the crash, the #10 spot was 19 Pudding Hill Lane, EHV at a mere $10,720,000.
Bottom line, new ceilings are shattered following outstanding years for the stock market.
To view all Top 10 Most Expensive Sales visit www.1TownandCountry.com/Reports.