AS SEEN IN THE REAL DEAL
Waterfront estate holding North Fork record lists for $36M
Farm on Indian Neck Lane last sold for $20M in 2008
The North Fork’s priciest listing could be on track to break its own record.
A sprawling North Fork waterfront estate holding in Peconic hit the market earlier this week with an asking price of $35.5 million — the most expensive property up for sale on the Long Island enclave, according to the listing agent, Corcoran’s Sheri Winter Parker.
The property at 4170 and 3375 Indian Neck Lane, known as Indian Neck Farm, set a record in the North Fork when it sold for $19.5 million in 2008, according to Parker, who worked on the deal.
The 148-acre estate has defended its title for more than a decade and is poised to again push the area’s record to new heights if it lands a buyer with the price tag intact.
“It’s pretty impossible to replicate this assemblage,” Parker said, noting that the grounds are spread across five parcels. The previous sellers began assembling the properties in the 1970s.
The estate, which overlooks Little Peconic Bay, includes a 60-acre farm, greenhouse, 20 acres of pasture, golf course and tennis court. It also features a “fitness and wellness barn” outfitted with a hyperbaric chamber and infrared sauna.
The median sale price for homes in the North Fork last quarter was just under $1 million, on par with the same period last year, according to Miller Samuel’s quarterly report for Douglas Elliman. The region logged 127 transactions in the third quarter compared to 119 in the previous year.
A waterfront property in Mattituck scored a record deal for the hamlet in October when it sold to Florida-based buyers for $10 million, or more than $2,200 per square foot. The three-acre property was traded in an off-market deal seven years after it sold for $4.5 million. Before the 1140 Park Avenue deal, no properties in Mattituck had sold for $5 million or more.
Last summer, buyers scooped up part of the famed Osprey’s Dominion Winery for an undisclosed amount, signing contracts for two of four parcels up for sale including 25 acres in Peconic and 17 acres in Mattituck. The winery’s tasting room and adjacent 4.5 acres remained on the market with an asking price of $8.2 million. The properties, spanning a combined 90 acres, hit the market in 2022 for $13 million.
