A $79.5M East Hampton home just found a buyer
While the specific sale price is not yet known until the transaction closes, the big-dollar deal could be one of the highest of the year on the East End. (Still, we hear, the final price will be less than the full ask.) The residence also found a buyer within just 90 days after listing.
Thankfully, this is no tear-down. The mystery buyer, who has multiple homes, plans a restoration, said the Agency's Dana Trotter, who repped them in the all-cash deal
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'It's an iconic location,' Trotter said, 'and it was the right fit for the buyer, who will bring it back to its former glory. That's their plan. To bring it back to life. It's a very classic style — not a modern box. It's a very special home.'
11 The handsome exterior of the residence.
Lena Yaremenko
11 The historic dwelling is accented with lush lawns and plantings.
Lena Yaremenko
11 The Lily Pond Lane lair has expansive, and stunning, windows.
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11 The residence fills with light.
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11 The dwelling doesn't shy from prime ocean views.
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The three-story mansion was built for President Franklin D. Roosevelt's secretary of treasury, William H. Woodin. Its traditional design is 'attributed' to renowned architect Grosvenor Atterbury, according to the listing, from Compass broker Ed Petrie.
The 8,400-square-foot, traditional shingled home is known as Dune House, as it sits above the dunes overlooking the Atlantic. The property is nearly 5 acres and is made up of two separate lots. Dune House itself stands on 2.85 acres at 105 Lily Pond Lane. It's adjacent to a second 1.8-acre vacant lot, which was included in the deal, and the new owner has the option to build a ground-up home on it to create a compound.
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Lily Pond Lane — along with Meadow Lane, Gin Lane and Further Lane — is known as one of the most prestigious streets on the East End. Past residents of Lily Pond Lane include Martha Stewart and Jon Bon Jovi. The street is anchored by Georgica Beach on one end and Main Beach on the other, and it was part of the original Hamptons summer colony.
11 There's abundant charm inside.
Lena Yaremenko
11 The charming country kitchen.
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11 An elegant formal dining room.
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11 A warm and colorful sitting area opens to the outdoors.
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11 A gracious main bedroom comes with a sitting room and stunning views.
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11 Another one of the home's charming bedrooms.
Lena Yaremenko
This year, Hamptons home sales reached a record high, with the first quarter median price above $2 million for the first time according to a Miller Samuel report. That means, brokers note, that the market heated up before Zohran Mamdani's mayoral primary win began to scare some wealthy New Yorkers out of the city to places like the Hamptons.
First-quarter East End home sales doubled compared to the same quarter in 2024, while closed sales almost doubled during the same period, from 230 to 420.
'Real estate is always a great investment, especially when there is volatility in the stock market — and you get to enjoy the asset,' Trotter said.
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New York Post
a day ago
- New York Post
Adams trashes $14 M NYC Council-approved law to provide free garbage bins: 'Ax to grind'
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New York Post
a day ago
- New York Post
Humanoid robot strolls NYC, tries on sneakers and freaks out New Yorkers
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Newsweek
a day ago
- Newsweek
Legal Storm Hits America's Most Popular Real Estate Website
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. America's most popular real estate website, Zillow, has been hit by a new lawsuit this week as rival platform CoStar Group claims it has illegally used tens of thousands of its watermarked images. It is the second legal battle facing Zillow this summer, after New York-headquartered real estate brokerage Compass filed an antitrust lawsuit against it in late June alleging that Zillow's new listing policy restricts competition and harms consumers. While the two cases are very different, Ladah Law Firm's trial attorney Ramzy Ladah told Newsweek that the two lawsuits converge on the same question: "How much power a dominant digital portal may wield over the lifeblood of residential real estate, which is timely, accurate listing data, and the media that sells it?" One lawsuit essentially asks whether a platform can police distribution rules in a way that disadvantages rivals; the other asks whether that same platform can lawfully display content it did not license. "Together, they test the outer limits of platform control in housing," Ladah said. Newsweek contacted Zillow for comment by email on Wednesday but did not receive a response. What Are the Lawsuits About? CoStar Group, which owns the website LoopNet, and filed its lawsuit against Zillow on Wednesday, accusing the company of posting 46,979 of their copyrighted real estate listing photos without their permission. According to the lawsuit, filed in a federal court in Manhattan, Zillow's use of CoStar Group's images undermined its ability to stand out against competitors, particularly for rental units. "Zillow's theft of tens of thousands of CoStar Group's copyrighted photographs is nothing short of outrageous," Andy Florance, CoStar Group's founder and CEO, said in a press release on Wednesday. "Zillow is profiting from decades of CoStar Group work and the billions of dollars we have invested. Even worse, Zillow is magnifying its infringement on Redfin and he added. "If these other sites do not immediately remove our images, we will have no choice but to sue them as well. We are committed to stopping this systematic infringement and holding the wrongdoers to account." Compass filed its antitrust lawsuit in June after months of back-and-forth between the two companies over Zillow's policy to ban private home listings. Essentially, the policy means that if a home seller or their agent markets a property off Zillow for more than one day, then that home cannot be listed on its platforms. The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges that "Zillow has sought to rely on anticompetitive tactics to protect its monopoly and revenues in violation of the antitrust laws." Zillow has denied having engaged in anticompetitive tactics, saying that the company has always stood for "transparency and equal access to information" while "Compass has been waging a campaign against market transparency to the detriment of consumers and agents." The practice of taking a home off Zillow and test prices elsewhere, Zillow said, makes the housing market less transparent. "Zillow's 'Zillow Ban' policy can force agents to play by their rules if they want visibility. This puts pressure on independent firms that use private listings or want to test pricing before going public," Keely Smith, the lead interior designer at JD Elite Interiors, told Newsweek. "It might seem like an agent problem, but when listings get funneled through a single pipeline, it narrows options for everyone. I've seen sellers struggle with fewer marketing avenues and buyers miss out on homes that don't show up on the first few pages of a Zillow search," she added. "It chips away at the flexibility and local knowledge that smaller brokerages bring to the table." While CoStar is asking for a permanent injunctive relief and "a substantial award of damages" that could reach up to $1 billion, Compass is asking for an injunction that would prohibit Zillow from implementing and enforcing its ban or similar policies. "The antitrust case asks whether platform rules have crossed the line from hard bargaining into unlawful maintenance of dominance," Ladah told Newsweek. "The copyright case asks whether the race to comprehensive inventory has led to sloppy or overbroad content ingestion." Legal Storm Hits America's Most Popular Real Estate Website Legal Storm Hits America's Most Popular Real Estate Website Newsweek Illustration/Canva/Getty What Does This Mean for the US Real Estate Market? If Compass prevails in its case, Zillow and other similar portals "may need to relax rules that penalize off-platform or delayed marketing," Ladah said. That, in turn, could increase the diversity of channels through which consumers find homes and reduce the gravitational pull of any single portal—chipping away at the power that Zillow has gained in the past couple of decades. A Compass' victory might also "erode the incentive for aggregators to invest in data quality and consumer tools if they cannot require prompt, comprehensive inclusion," Ladah added. "Courts often weigh those tradeoffs under the rule of reason, and remedies can be tailored, so a likely outcome is not a free-for-all but a narrowing of permanent exclusion coupled with clearer, less punitive compliance paths." If CoStar wins its case and establishes widespread, unlicensed use of its material by Zillow, "the result will be tighter provenance controls, more robust license audits, and possibly a re-pricing of photo rights across the ecosystem," Ladah said. "That would push portals and MLSs to adopt stronger hash-matching, metadata preservation, and takedown workflows, and it would push brokerages to obtain clean, written licenses from photographers that explicitly cover syndication to every endpoint where a listing may appear." While this is all very technical, these lawsuits could have a direct impact on homebuyers as well. A check on Zillow's dominance on the real estate market, Ladah said, "could surface more listings across a wider set of sites, which feels pro-consumer at first glance," but "the countervailing risk is fragmentation." "If agents feel freer to run staggered or private campaigns, or if portals reduce cross-syndication to mitigate copyright exposure, some homes may be harder to discover in one place," Ladah said. "The net outcome will depend on whether courts and the industry can maintain broad, near-real-time sharing while curbing exclusionary rules and tightening IP compliance." Home sellers, on the other hand, are currently often limited by policies that force immediate publication to a single platform. "If those policies soften, sellers and listing agents may regain leverage to calibrate visibility without risking permanent banishment from high-traffic sites," Ladah said. The outcomes of these two legal battles, Ladah explained, are likely to influence not only how Zillow operates, but also how the entire digital architecture of U.S. homebuying and renting is organized. "A win for Compass or CoStar would likely democratize access and strengthen IP compliance, with some risk of short-term fragmentation," he said. "A clean sweep for Zillow would entrench the current gatekeeper model and reward strict distribution discipline, which could preserve consistency and consumer familiarity at the possible expense of competition at the margins." Either way, Ladah said, the message for the market is the same. "Treat access rules and content rights as core legal infrastructure, not housekeeping. The next phase of real estate's digital era will be built on whichever of those two pillars the courts reinforce," he said.
