Sagaponack, a village in New York’s Hamptons, often ranks as the number one most expensive ZIP code in the country. (Don’t ask proud locals about those years when Atherton, Calif., won, because laalalalala theeey caaaan’t heeear you!) Once a sleepy seaside farming community, the area was colonized by artists and writers in the 1950s and 60s, perhaps most famously by Truman Capote, whose rustic cottage on Daniel’s Lane was later owned (and sold) by artist Ross Bleckner.
Sandwiched between Bridgehampton and East Hampton, Sagaponack later began to attract heavy-hitters in the worlds of business and entertainment. Mansions began being rising in the former potato fields, and Billy Joel bought an oceanfront house that’s just down the beach from Fair Field, billionaire industrialist Ira Rennert’s 100,000-square-foot compound that often considered the most valuable property in the United States. And then Wall Street moved in; Around gorgeous Sagg Pond are the shingled mansions of several current and former Goldman Sachs partners. (That’s why local wags call it Goldman Pond.)
Just 500 feet from the crashing ocean waves on prestigious Gibson Lane, tax records show this Sagaponack property is unsurprisingly owned by a hedge funder, Steven P. Baum of Five Mile Capital. Baum purchased the property as a new build in 2010 for $11.5 million and now has it listed with Judi Desiderio at Town & Country Real Estate for $32 million.
The 8,000 square foot shingled house sits on one acre of land and offers six bedrooms, nine full bathrooms and two half-baths. To the north are 11 acres of agricultural reserve, 25% of which is deeded to the owner of this property. A home next to agricultural reserve is coveted in the Hamptons, as the farm fields make for open, attractive vistas, and more importantly, no houses may be built there.
A special feature of the house is the enormous yet somehow still welcoming kitchen, which provides several casual spaces to lounge around and eat. Upstairs, the master bedroom includes a vaulted, wood-paneled ceiling, along with two private ocean view terraces. This level includes another three bedrooms, all ensuite. Climb a staircase and there is a 300-square-foot roof terrace for enjoying epic ocean views. The roof deck includes a kitchenette.
In addition to a home theater with a fun concession stand, a wine cellar, and a game room, the extensive basement level contains fitness and massage spaces that incorporate a steam room and a sauna, a staff bedroom and bath, and lots of extra storage. Outside, the gunite pool with large spa is located right by a double-sided cabana that includes a bathroom, outdoor shower, kitchenette, and shady arbor.
The best part: all the stylish, neutral-toned furnishings are included in the sale. New owners can therefore walk right in with little more than a toothbrush and bathing suit and start enjoying the Sagaponack lifestyle.
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