At a whopping $152.5 million, the oceanfront property in Sagaponack will set a new Hamptons home price record — and will do so as a relative peanut among East End megamansions several times its size.
39 Fairfield Pond Lane, which comes fully furnished, sits on one of the most expensive streets in the United States and was listed on Sunday by billionaire fund manager Zach Schreiber. The founder of PointState Capital spent $24 million on it in 2013, filings show.
If it were to trade hands at its asking price, it would blow the current record holder out of the water. The highest ever paid for a single parcel in the area was $115 million last year, for a waterfront, 10,500-square-foot home on nearly 9 acres at 408 Further Lane, property records show.
According to its listing, this newly listed property is priced at a staggering $16,053 per square foot.
The question comes after the site was renovated, which included demolishing the existing two-story house and replacing it with its own two-story luxury offering.
At 9,500 square feet on 3.4 acres, the property is comparable in size to a property on the same street listed for $89 million in comparison. That property, along with a private 9-hole golf course, is among the most expensive in the Hamptons and ranks among the most expensive properties in the area.
The sale of 39 Fairfield Pond Lane will use that price.
To be sure, some properties in the Hamptons have high prices, the biggest example of all is Ira Rennert’s waterfront compound, whose estimated value is more than 425 million dollars. With a 110,000-square-foot home sitting on 65 acres, it is considered the largest home in the US.
In fact, if a buyer of 39 Fairfield Pond Lane wants to shout, “Howdy neighbor,” when they walk in, it will be to Rennert, whose property shares the same property line.
The residence is designed to carry a lot of its money. Coming fully furnished, it aims to find a large shopping center that is part of a nascent but growing trend in the Hamptons.
The property includes 363 feet of ocean frontage, tennis courts, a heated pool and ample parking for a city car. If you are so inclined.
The seven-bedroom, eight-bathroom home is designed to be elegant and welcoming.
“This could be a forever home,” said listing agent Terry Cohen of Compass Real Estate.
In fact, that’s exactly what Schreiber had planned, but “family life has moved elsewhere,” Cohen added.
Fairfield Pond Lane is one of the Hamptons’ premier streets, with plenty of privacy due to its dead end ocean front. This list is designed to fit in there. In addition to its 9,500 square feet of interior space, 2,000 square feet of covered patios wrap around.
Its 823-square-foot great room has 15-foot ceilings and panoramic views of the grounds and the Atlantic.
In total, there are seven bedrooms, eight full bathrooms and two half baths. The recreation area includes a media lounge and, for those who prefer their leisure a little more, a Pilates room complete with sauna and spa.
The place has very humble beginnings, starting as a wind-blown beach house with potato fields behind it. A wood-frame house, with no heating and only a gas stove, was added in 1945.
