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Hamptons Life

Aug 8, 2014 11:57 AMPublication: The East Hampton Press & The Southampton Press

Three Of Wainscott's Seven Oceanfront Homes On The Market

Aug 11, 2014 2:33 PM

The time to act may be now for anyone who has had a long-held dream to live on the Atlantic in Wainscott.

The hamlet of Wainscott has only seven homes on the ocean and three of them are currently on the market.

All three homes sit on roughly 2.5 acres, are roughly 3,000 square feet, and have over 250 feet of ocean front each. Since the asking price for each home varies considerably, one may be left wondering which is the better deal.

Two weeks ago, a "california beach style home" at the end of Beach Lane was listed for $16.5 million. There is currently a 3000 square foot, stucco-clad house on the lot, with a clay tennis court and putting green. The property will allow for a 7,900 square foot house, which still leaves room for pool and tennis.

Two doors down (to the west) a home built in 1981 at 124 Beach Lane has been on the market for more than three years, and is still maintaining its listing price of $23.5 million. Since the building envelope on the site is larger than the existing structure and the design of the home is arguably out-of-date, the home is also a likely candidate for teardown.

On Wednesday, Mickey Drexler, CEO of J. Crew, listed his home at 120 Beach Lane (right next door to 124 Beach Lane) for $26.5 million. Mr. Drexler, who owns several homes on the East End, bought the house for $17 million in 2008, according to the Daily News. The house is pinched between Wainscott Pond and the ocean, which provide spectacular views, but leave the property particularly vulnerable to rising tides.

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