A waterfront estate in Southampton has sold for nine figures, marking one of the luxury enclave’s most expensive deals in recent years.
The eight-acre property at 700 Meadow Lane sold for $112.5 million, a person familiar with the deal told The Real Deal. Former advertising executive Marcia Riklis listed the home in 2021 for $175 million, before dropping the ask to $135 million earlier this year.
Despite the nearly 25 percent price reduction, the price marked the most expensive listing in the Hamptons.
The sale appears to be the most expensive in the Hamptons since hedge funder Barry Rosenstein’s $147 million buy in 2014. The property is also the latest to sell for over $100 million, surpassing the 2021 sale of 90 Jule Pond Drive in Southampton for $105 million.
Bespoke co-founder Cody Vichinsky, who represented the seller, and Compass agent Michael Koeneke, who represented the buyer, declined to comment.
The 11-bedroom, 12-bathroom home has 500 feet of ocean frontage, a 70-foot heated pool and a main house that spans 15,000 square feet. An online listing also includes a private boardwalk and an attached caretaker’s cottage, as well as basketball and tennis courts.
The property is adjacent to a home bought in 2020 by billionaire Ken Griffin from Calvin Klein for $84 million, the most expensive residential deal in the Hamptons that year. Last year’s most expensive sale was Ron Perelman’s former estate at 153 Lily Pond Lane, in East Hampton, which sold to an anonymous buyer for $84.5 million.
Prices in the Hamptons residential market reached new heights nearly three years after the pandemic drove wealthy New Yorkers east. The rise in activity shifted the area from a vacation market to a co-primary market, analyst Jonathan Miller said last year, before it sapped inventory and drove bidding wars to a record high in 2023.