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359 Noyac Path
Water Mill, NY 11976
Vincent Horcasitas with Saunders & Associates, original listing - (631) 537-5454
$3,995,000
Conventional
Property
Bedroom
4
Bathroom
Full: 3
Property Type
Conventional
Square ft
3400 Square Feet
Property Description
This designer-curated Hamptons retreat offers contemporary luxury and timeless elegance. Architectural ingenuity and inspired design make this Hamptons home truly impressive, immediately ready for elevated entertaining and luxury living. On close to an acre in Water Mill, surrounded by reserves with views, this sophisticated 3-level home has 3,400 +/- sq. ft. of living space, 4 bedrooms, 3 full baths, attached 2-car garage, and heated gunite pool; plus an expansive lower level and room for a pool house. The natural beauty of Eastern and Western exposure overlooking hundreds of acres of preserved land cannot be overstated, and they will remain forever protected. From the exterior, the home strikes a perfect balance between contemporary and traditional style, with dark charcoal cedar siding, a zinc roof, and an aluminum-wrapped steel entry door. Interiors are bright and open, highlighted by slate flooring, double-height ceilings, clerestory windows and walls of glass. Designer details-including premium curated lighting and Palupe wood trim-are seen and felt throughout the home. At the central focal point, is a custom spiral staircase made of steel, bamboo, and tempered wooden banister, which appears to float above a dramatic double-height view of the rear courtyard. On one wing, a custom dual-sided fireplace separates the dining area from the living room, which overlooks acres of bucolic reserves. A wall of windows and 5 sturdy, stay-open glass doors invite the outdoors in, with easy access for dining al fresco and sun lounging in the backyard. Opposite the staircase, the eat-in kitchen matches beauty and performance with professional appliances, granite center island, and custom Bendheim glass cabinets. The first level is completed by a tiled-bath, first floor bedroom, office/den, and access to the attached 2-car garage. Upstairs, find three bedrooms, including the primary, each with double-height ceilings. The ensuite primary is a luxurious haven, wrapped in light and sunset reserve views and equipped with a private balcony patio, wood-burning fireplace, walk-in closet, and ensuite bath with a glass-lined shower, a Japanese soaking tub, water closet, and dual vanity. Additionally, two guestrooms, one overlooking reserve and another with an attached office, share a full bath. The home's L-shape design shields the rear grounds from outside elements-without blocking the sun-creating a calming courtyard with slate patio, 16'x54' heated gunite pool, garden, and a lush lawn dotted with mature specimen trees. Find peace and privacy at home with elevated Hamptons living always close at hand with nearby Water Mill, Bridgehampton, and Sag Harbor Villages with boutique shops and dining - plus, world-famous white sandy ocean beaches.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2003
MLS Number
--
Location
Address
359 Noyac Path
City
Water Mill
State
NY
Zip Code
11976
County
SUFFOLK (EAST)
Listing
Name
Phone
(631) 458-4879
Office Name
Office Phone
(631) 537-5454
Agent Name
Vincent Horcasitas
Agency Phone
(631) 537-5454

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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.