Real LI
Buying and selling real estate in the communities of Long Island
posts Next post »Brooks Brothers to launch line for the home
Diamond Ranch in Water Mill gets bids in online auction
Photo credit: Permission Prudential Douglas Elliman Real Estate
Last week’s online auction of Diamond Ranch in Water Mill attracted seven bids for the 30-acre reserve, says listing agent Enzo Morabito of Prudential Douglas Elliman Real Estate.
The opening bid for the property was $2.045 million. Morabito says bids went considerably higher and he is still working with the highest and second-highest bidders, hoping to conclude a deal.
The property belongs to the estate of Stanley Simon, who died this summer. Any sale is subject to probate court approval. Simon had once been a diamond industry executive; he named the ranch in honor of his profession.
Morabito says that all the bidders were from the horse community, interested in establishing a private “gentleman’s farm” there. “It is the highest and best use for the property,” he says.
The ranch has been the site of several large and celebrity-laden charity events, including ones attended by Christie Brinkley, the cast of “The Real Housewives of New York City” and Carson Kressley. Neighbors of the ranch filed a lawsuit in 2008 to block Simon from holding major fundraising activities there.
Tags: celeb , Water Mill , Prudential Douglas Elliman Real Estate , Rich Cribs , auctions
Search recent home sales on LI.