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26 S Elroy Drive
Montauk, NY 11954
$9,995,000
Conventional
Property
Bedroom
6
Bathroom
8
Property Type
Conventional
Square ft
8620
Property Description
Now fully finished, this custom new construction offering designed by renowned architect Mojo Stumer has been crafted with the highest level of expertise. Nestled on a sprawling one-acre parcel, this waterfront retreat offers direct access to Fort Pond along with panoramic ocean views to the south. Every inch of this luxurious residence has been meticulously planned and executed, ensuring a remarkable living experience. The three-level layout encompasses over 8,600 square feet of living space, presenting a harmonious fusion of sleek lines, high-end finishes, and unparalleled attention to detail. Expansive windows and open living spaces showcase breathtaking water views and an abundance of natural light upon entry to the home. On the main level, the sense of spaciousness is enhanced by ceiling heights ranging from 10.5 feet to 11.5 feet, while an open floor plan seamlessly connects all living spaces. The gourmet kitchen, a true chef's delight, features top-of-the-line Sub Zero and Wolf appliances, custom millwork cabinetry, and stunning engineered quartz and porcelain countertops. This culinary haven is ideal for hosting gatherings and creating unforgettable dining experiences. Rounding out the main level is a secondary sitting area, separate den, and a beautifully appointed ensuite bedroom with private access to a southern-facing patio. Located on the second level, the primary bedroom is a private oasis featuring a double-sided gas fireplace, custom built-ins, and breathtaking ocean views via a private terrace. Boasting a lavish spa-like bath, the suite is complete with high-end fixtures, luxurious finishes and a serene ambiance. Accompanying the primary on this level are four generously sized en-suite bedrooms, two of which lead out to patio space overlooking the pool with staircase access to the rooftop deck. The lower level, spanning an impressive 3,030 square feet, sets the stage for entertainment and relaxation. Along with one bedroom and two luxurious full bathrooms, this floor includes a wellness area with sauna and steam room, a state-of-the-art gym, and a temperature-controlled wine cellar. Entertainment options continue with a large bar area and a versatile game room, while the pre-wiring for a theater allows for the creation of an ultimate at-home cinematic experience. Harmoniously merging luxury and convenience, the residence presents an abundance of highly desirable features. Radiant flooring ensures warmth and comfort throughout the lower level, main level, and all second level bathrooms. The Savant home automation system, paired with Lutron controls, allows for effortless management of lighting, temperature, and various other features, while the Weathershield Contemporary Line window and door package enhances energy efficiency. A three-stop elevator seamlessly connects all levels. Designed by The Laurel Group & Jim Hand, the exterior spaces purposefully maximize the waterfront lifestyle. A sprawling patio deck, adorned with stunning Marmiro Stone, spans approximately 5,000 square feet, providing ample space for entertaining, lounging, and enjoying the breeze. Offering a refreshing oasis for swimming and leisure, the backyard features a 23' x 50' saltwater gunite pool with an adjacent 11' x 11' spa, an outdoor shower, and an outdoor kitchen and BBQ area with ample space for al fresco dining and entertaining. An attached oversized two-car garage provides convenient parking and storage, while the 11kw solar panel system and efficient propane heating ensure both sustainability and cost-effectiveness. Exuding a resort-like ambiance, this new construction residence offers exceptional amenities with an impeccable combination of luxury, comfort, and entertainment all in a prime waterfront-setting with close proximity to both town and ocean beaches.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
2023
MLS Number
11196247
Location
Address
26 S Elroy Drive
City
Montauk
State
NY
Zip Code
11954
County
SUFFOLK (EAST)
Listing
Provider
Hedgerow Exclusive Properties, original listing
Name
Hedgerow Exclusive Properties
Phone
(631) 296-8543
Office Name
Hedgerow Exclusive Properties
Office Phone
(631) 296-8543
Agent Name
Hedgerow Exclusive Team

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.