This East Hampton Oceanfront Home is Asking $64 Million
The Hamptons have always been known for their rather expensive property. After all, it is an area that has long been considered more exclusive, something that only people with a great deal of money could afford. As a result, it really shouldn’t come as a surprise that an East Hamptons home is up for sale for 64 million dollars, despite the fact that the home’s current owners have been trying to tear it down for years. Thwarted in their efforts at practically every turn, they finally made the decision to try and sell the home so they could cut their losses and start anew somewhere else. It’s important to remember that while they might have wanted to tear the home down, that doesn’t necessarily mean that everyone will want to do the same thing. The truth is, this house has quite a lot to offer, but only for the right individual.
The Home Itself
The home is actually quite striking in its outward appearance, running the length of the beach and sitting on a hillside that gives you a bird’s-eye view of such. The side that faces the beach is made up of several windows and the rest of the home is a dark colored brick. It has a fireplace and the home is composed of two stories. In addition, it has a rather cozy living room with a breakfast nook, although the living room itself isn’t as large as you might expect it to be. Nevertheless, there is a truly outstanding view of the highly manicured (and rather large) backyard from the window of the breakfast nook. Whether you choose to use that space to eat breakfast or get some work done, you will have a view that you’ll probably never get tired of seeing. In addition to these amenities, the home has a number of cozy bedrooms, with the main suite offering a jaw-dropping view of the ocean. The bathroom that attaches to it is very minimalistic and modern in its design, a departure from the rest of the house.
In fact, it almost feels as if you are in two completely different houses when you walk from the bedroom (or any other room in the house) into the bathroom. You can tell that the owners have done some renovations over the years, but it’s also obvious that they stopped renovating at one point. Much of the home has old fashioned wood paneling on the downstairs level, something that was popular back in the 1970s. It doesn’t necessarily look bad. In fact, the homeowners have kept the entire house in impeccable condition. However, it does make the house look dated, at least by today’s standards. That said, it’s possible that the dedicated arcade room could offset any squeamishness caused by the wood paneling. Again, it really comes down to the individual interested in buying the home and whether or not things like wood paneling coupled with a minimalist bathroom that looks like something from the future is going to be a problem on a personal level.
Aside from the fact that it has been widely publicized that the owners have wanted to tear the house down for years, it’s being marketed as a fixer upper. Aside from the old school wood paneling, people might be wondering exactly what is going on with the home. After all, homes that are typically marketed as fixer uppers need to be gutted down to the studs. This has led a number of otherwise interested parties to inquire whether or not something is structurally wrong with the home. As it turns out, that isn’t the case at all. The owners wanted to tear the house down because they wanted to build something larger. Unfortunately, they live in a particular area in East Hamptons that has been designated as an erosion zone, meaning that it isn’t possible for them to tear the house down and build something with a larger footprint. They have been fighting this with the city and in the courtroom for years. Finally, they decided to give up the fight and renovate the home, hence the ultra-modern bathroom. The thing is, they were never truly satisfied with that decision. Therefore, they ultimately decided to stop all renovations and put the house up for sale. They posted it as a fixer-upper because there are portions of the home that are quite dated. As such, they figured that someone else might want to come in, gut the home and then redesign the interior.
A Steep Asking Price
If you’re like most people, you probably think that an asking price of $64 million for a house that is marketed as a fixer-upper is a bit extreme. Most people would expect a house to be move-in ready for that price. In reality, the house is ready for someone to move in and enjoy it just as it is, provided that you don’t mind things like wood paneling and outdated kitchen cabinets. There is nothing wrong with the home. In fact, some individuals who have a thing for nostalgia would consider it to be absolutely perfect, just the way it is. These individuals wouldn’t dream of changing a thing. For them, the only problem might be that incredibly futuristic bathroom that simply doesn’t match up with the rest of the house. If someone who falls in love with the remainder of the home ends up buying it, it might be the first time in history that a person has renovated a bathroom in order to make it look older than it actually is.
At any rate, buyers have two options. They can buy the home for the asking price and move into it as is or they can spend the money on the purchase price and then spend a considerable sum of money renovating the interior. While it has been mentioned many times that someone such as an architect may want to purchase it so that its interior can be gutted and completely redesigned, that certainly isn’t necessary. A few updates here and there can make a world of difference for anyone who isn’t necessarily crazy about its current appearance. No one would ever expect to get a bargain in the Hamptons, but it still seems a bit shocking to spend so much money on a house that many people consider to be too old and too small. That said, houses are just like everything else. The house that one person falls in love with is the same house that another person can’t wait to get out of. As such, this house just needs the right buyer to come along.