The most expensive property now for sale in the Hamptons is also the East End’s largest equestrian estate
Hold on to your saddles!
A massive equestrian estate in Water Mill has listed for a cool $125 million, claiming the title of the most expensive home now for sale in New York’s exclusive Hamptons, according to the Out East listings portal.
Owned by real-estate developer Ben Ashkenazy and his wife, Debra, this 76-acre property is up for grabs after the pair assembled the spread for a total of $26.7 million in 2015 and 2016, according to the Wall Street Journal.
Michael Cantwell of Bespoke Real Estate, who has the listing, told the outlet the property is also “the largest equestrian compound in the Hamptons.”
Its market debut comes on the heels of the East End’s formerly highest-priced get — the ocean-facing Dune Cottage in East Hampton — lowering its $120 million asking price to $95 million after seven weeks for sale.
This newly listed offering features a 20,000-square-foot mansion with eight bedrooms, built in 2012 by Jeffrey Collé.
Cantwell highlights its luxurious details, including “nine wood-burning fireplaces salvaged from 17th- and 18th-century French châteaux,” and “hand-carved limestone and marble bathtubs.”
The foyer’s parquet floors, made from centuries-old French oak barns, mimic the grandeur of Versailles.
The property’s exterior boasts a pool, a pool house, a storage barn and a sunken tennis court. It also includes Pinnacle Farm, a premier horse-training facility purchased by Ashkenazy in 2016, with a 16-stall barn, 11 paddocks, and both indoor and outdoor riding arenas.
The estate is adjacent to a 184-acre agricultural preserve, the largest contiguous preserve in the Hamptons.
Ashkenazy, known for his Manhattan-based Ashkenazy Acquisition, which owns a stake in New York City’s Plaza Hotel, assembled this property for family-related pursuits.
“It caters to the family’s passion for horses and avid polo playing,” Cantwell said.
The estate, which was previously listed for rent asking $125,000 a month, is located in the rural, sought-after Water Mill area, attracting buyers looking for expansive properties.
“Outside of major oceanfront properties, it’s where people have been able to create these types of assemblages,” said Cantwell. “It’s probably one of the only places left [in the Hamptons] where you have this ability to have this kind of massive acreage.”
Water Mill’s real estate market is booming, with sales more than doubling in the second quarter compared to last year.
The median sale price is now $5.7 million, up 16.9% year-over-year.
