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330 Main Street
Sag Harbor, NY 11963
Marc Heskell with Compass, original listing - (631) 537-7700
$4,695,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3
Property Type
Conventional
Square ft
2542 Square Feet
Property Description
This 1840s Captain's Row historic home affectionately known as "Pond View" was meticulously restored to its original granger and recently renovated with the luxurious modern amenities. The property has had a series of luminary owners, including a famous composer/conductor, a key figure in American Football, and a ballerina and actress. This turn-key charmer has four bedrooms, one of which is currently used as an additional parlor room, three full bathrooms, a den/library overlooking the backyard, beautifully landscaped grounds and gunite plunge pool. Embrace the beautiful western water views of Sag Harbor Cove, majestic views of Otter Pond or enjoy the warmth and ambiance of any one of the six fireplaces. As you enter the front door you are greeted by a lovely entry foyer. Turn left to enter the fourth bedroom/parlor room with fireplace, two exposures and views onto Otter Pond. Head through the pocket doors to the spacious living room with fireplace and wall of glass with French doors that lead out to the deck and yard beyond, creating a seamless connection of indoor/outdoor living. Just off the living room to the right is a cozy den that also overlooks the backyard, and to the left is the kitchen that combines timeless charm and modern amenities, including an original 1840s fireplace/oven and beamed ceiling, along with Viking and Sub-Zero appliances. A full bath with claw tub completes the first floor. Ascend the beautifully restored stairs and railing to three bedrooms, including an expansive primary bedroom, with fireplace, spa like bath with radiant heat floors, two exposure and views over upper Sag Harbor Cove. A second guest suite with newly renovated marble bath, private staircase access and two exposure, over Otter Pond and Sag Cove. A third bedroom with fireplace and two exposures with views of Otter Pond and to the south. The attic is cedar lined for excellent storage. History is beautifully preserved in the lower level that once served as a Village speakeasy, and now provides space to relax by the sixth fireplace. The beautiful grounds complete the experience, with lush estate plantings, water features, heated gunite plunge pool, outdoor shower, as well as separate sitting and dining areas and all surrounded by an 8' Ilex hedge for estate like privacy.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1840
MLS Number
--
Location
Address
330 Main Street
City
Sag Harbor
State
NY
Zip Code
11963
County
SUFFOLK (EAST)
Listing
Name
Phone
(917) 328-2800
Office Name
Office Phone
(631) 537-7700
Agent Name
Marc Heskell
Agency Phone
(631) 537-7700

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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.