45 Abrahams Landing Road, Amagansett

From listing site: “An ideal location and beautiful views is what it’s all about. This large traditional home on a half acre back up to South Fork Golf Coarse. The fully cleared back yard and two car garage have great privacy. The house is in excellent condition and is waiting for the right buyer to unlock its hidden value. A must see and one of the best properties for sale in Amagansett.”

This should have been listed under the sub section, “too good to be true“. 

At a price point of $1.5m, it was actually priced to get multiple offers and did. Within 14 days, there was a sealed envelope bidding process between 3 potential buyers. Current status: in contract for more than $100k over ask.

What made this a special spec prize? The .5 acres has great vistas and sun set views of the South Fork golf course. It’s also within walking distance to the train, bus, Amagansett shops & restaurants. Close to town but the owners can also bike to either the ocean, or bay, or pull a golf cart out of the garage and ride onto the fairway to the South Fork Club House. Our research tells us the neighbor is in contract at $4.4m and there’s plenty of comps in the surrounding local to support $3.6m to $4m range.

Whether the new owner will do a much needed $650k make-over, or a $2m tear down/ mulligan … there’s plenty of green! 

 

Categories Spec Picks

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