One piece of a North Fork farm has traded for the market’s latest peak worth.
A 77-acre waterfront parcel within the North Fork quietly bought for $15 million in June, in accordance with property data. The sale marks the costliest residential parcel bought within the space.
The property, at 4170 Indian Neck Lane, had beforehand been listed for $36 million with 4 different parcels of land, which made up what’s generally known as Indian Neck Farm. The farm, which was made up of 5 parcels and spanned 148 acres, final bought as an entire for $19.5 million in 2008, which on the time marked a report sale for the realm.
The piece of land that bought stretches from the highway to miss Little Peconic Bay, and features a roughly 7,000-square-foot home, a number of barns, together with one described as a “health and wellness barn,” and a pool.
Property data present that one other 15-acre parcel at 3375 Indian Neck Lane bought in March for $2.8 million.
Corcoran’s Sheri Winter Parker, who had the itemizing, didn’t reply to a request for remark.
The North Fork has seen a slew of latest data in recent times.
Apollo CEO Marc Rowan bought up 110 acres of vacant land in East Marion for $23.5 million. Rowan later told The Real Deal he doesn’t have any instant plans for the property.
The record-setting sale of the property at Indian Neck Lane is a testomony to the bizarre dimension of the one plot of land, in addition to escalating costs throughout the North Fork. The $15 million deal works out to only a worth of $200,000 per acre, properly beneath among the different current residential gross sales within the space.
The 1.2-acre bayfront Cutchogue residence of late gallerist Barbara Gladstone, which bought for $11.2 million in October, labored out to over $9 million per acre. That deal held the report for priciest single-lot sale for simply three months earlier than it was knocked off by a 21-acre waterfront property in Southold that went for $12.4 million in January.
Compass’ Bridget Elkin had each of these listings.
The North Fork’s wider market has risen with the development line of its A-list properties. Within the third quarter this 12 months, the median sale worth hit a record high of $1.25 million, a 20 p.c improve from the identical interval final 12 months.
Learn extra
Why Thomas Juul-Hansen thinks he can build the North Fork’s most expensive spec home
Bayfront Cutchogue lot sets North Fork record
Waterfront estate asking $15M scores record-seeking contract
