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86 Pine Street
Southampton, NY 11968
Suzanne Kassar with Saunders & Associates, original listing - (631) 283-5050
$6,725,000
Conventional
Property
Bedroom
4
Bathroom
Full: 5, ½: 1
Property Type
Conventional
Square ft
4500 Square Feet
Property Description
Discover the epitome of luxury living in this stunning Southampton Village home, featuring 4 bedrooms, 5.5 bathrooms, and 4,500 square feet of meticulously designed living space. Reimagined by the present owner, a renowned Hamptons developer, this special property is a contemporary compound composed of an elegant main home plus a large multi-purpose structure accompanied by a courtyard-style pool. Arrive off a quiet one-way street in the heart of the Village via a wide Belgian stone drive which leads to the attached two car garage, connected to the main home via a breezeway. The interiors are sophisticated and inviting, adorned with beautiful natural light, gorgeous hardwood floors, luxurious amenities, and thoughtful contemporary design. At the heart of the main home, past a sitting room and entry foyer, the spacious open eat-in chef's kitchen is equipped for everyday luxury living and elevated entertaining. The custom kitchen is styled with top-of-the-line appointments including natural stone, a 6-seat island, full slab backsplash, built-in breakfast banquet, Thermador gas range and a Miele electric speed oven. There's also a beverage center with a separate sink, built-in espresso machine, ice maker, dedicated beverage fridge, wine storage, and a restaurant-quality wine dispenser. Completing the main level are two ensuite bedrooms, a powder room, laundry, mudroom, gym, and the attached 2-car garage. A finished lower level adds a media room, full bath, and bedroom. Occupying the entire second level upstairs, the oversized primary suite has 13' cathedral ceilings, built-in dresser seats, a fireplace, and two separate walk-in closets. The pristine marble bathroom is fully appointed as its own mini-sanctuary and has a glass-walled steam shower, separate WC, and dual vanity, all illuminated by a gorgeous natural skylight. Impressively sized with 20' original vaulted ceilings and exposed beams, the spacious pavilion is steeped in history and was most recently an operating antique shop. Inside and out, this structure has been transformed into the perfect open-concept, multi-purpose space with numerous sitting areas, a kitchenette, and large-format dining section with a custom banquette. A double-sided fireplace warms a sitting area on the wraparound porch with a chef-quality outdoor kitchen and adjacent bar seating. Below, a finished lower-level prohibition-inspired Speakeasy has a full wet bar, plenty of space, and luxurious, tufted, built-in leather seating. Additional features for year-round comfort include a multi-zone central HVAC system, Hydronic radiant underfloor heating as well as wired Sonos and fiber internet across the property. The courtyard grounds are dotted by mature plantings and filled with natural light, with privacy afforded by eye-level perimeter hedging and fencing. The sunny, heated gunite pool features a state-of-the-art automatic pool cover, is surrounded by sandstone patios, perfect for sun lounging and dining al fresco, and meticulously manicured landscaping elegantly divides the compound. Unforgettable memories await at this special property which offers both privacy and convenience, located just moments away from the world class ocean beaches, boutiques and elevated dining in Southampton Village.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2022
MLS Number
--
Location
Address
86 Pine Street
City
Southampton
State
NY
Zip Code
11968
County
SUFFOLK (EAST)
Listing
Name
Phone
(631) 537-5454
Office Name
Office Phone
(631) 283-5050
Agent Name
Suzanne Kassar
Agency Phone
(631) 283-5050

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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.