Two adjacent houses in the Hamptons came onto the market together Wednesday for a total of $19.995 million, marking the third mega-size compound listing in the affluent Long Island vacation spot in recent weeks.
The new listing includes two residential properties on Sayre’s Path in Wainscott, part of East Hampton, which were listed separately but concurrently in February 2016 for $14.5 million and $13.5 million, according to Multiple Listing Service records.
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Combined, the two houses have over 12,000 square feet of interior living space, including 12 bedrooms, 12 full bathrooms and three half-bathrooms, according to the listing with Elaine Stimmel and Diane Saatchi of Saunders & Associates.
The larger, 1.26-acre property (that was previously listed for $14.5 million) features a 6,454-square-foot main residence, a poetry house/artist studio with fireplace and kitchenette, a full-service spa building that comes with a sunken mahogany fire pit that sits 20 people, a deck with a hot pool, a cold plunge pool, six-person shower room, hot sauna, massage room, a caldarium (a room with a hot plunge bath) and a tepidarium (a bathing room with underfloor heating).
"The world-class spa building is very unusual. People are really impressed by it," Ms. Stimmel said.
The smaller property encompasses 0.98 acres, with a 5,800-square-foot symmetrical residence, a heated Gunite pool, a pool house and a two-car garage.
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The current owner of the two properties used limited liability companies to purchase lots for $2.475 million and $2.735 million in 2006 and 2010, respectively, according to listing agents and property records. The two houses were built in 2012 by architect Heiberg Cummings, blending old-world charm with cutting-edge amenities, Ms. Stimmel said.
The owner wants to sell the compound, so another family can enjoy it as a whole. Meanwhile, Ms. Stimmel added that "we found that $20-million-plus, unusual properties tend to be selling on the market at this moment."
In October, there were a few luxury transactions in the Hamptons. Lasata, former first lady Jacqueline Kennedy Onassis’s $30 million Hamptons summer house, went into contract. In addition, the famed Grey Gardens home found a buyer with an asking price of $18 million, while a new build by a Sbarro pizza heir entered into a sales contract for $24 million.
The Hampton’s luxury markets have been steadily improving this year. During the third quarter, 52 homes sold for at least $3.3 million—the threshold for luxury segment in the area. There were 10 homes traded for at least $10 million, according to the quarterly Hamptons market report by Douglas Elliman.
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Sellers are taking note of the strong rebound of the high-end market. Just last week saw two other mega-size compounds being listed.
A 18-acre equestrian estate in Bridgehampton, New York, combined with an adjacent residential lot for a new mansion, hit the market last Thursday for $40 million.
Also last week, a two-parcel compound on Georgica Pond owned by late investment banker Carl Tiedemann II, founder of Tiedemann Investment Group, returned to the market for $29.495 million. The price reflects general market conditions in the Hamptons, listing agent Lori Schiaffino of Compass told Mansion Global.
There are quite a few other compounds currently on the market in the Hamptons, according to Dolly Lenz, chief executive of the eponymous brokerage firm. Those include Fordune, a $175-million 42-acre compound formerly belonging to the Henry Ford family, a four-parcel combo on First Neck Lane in Southampton for $58 million and a Montauk compound owned by television personality Dick Cavett for $60 million.
"Compounds in the Hamptons are more of a new trend. People who can afford it want additional privacy and the compounds provide that," Ms. Lenz said.