Waterfront Sands Point home sells for $8.25M in one of largest Nassau deals so far this year

A custom-built mansion on Long Island Sound sold for $8.25 million earlier this month in one of the most expensive sales so far this year on Nassau's Gold Coast.

The price reflected the Sands Point house's rare deepwater dock and western-facing views of the Manhattan skyline, as well as its move-in condition, said Maggie Keats, an associate broker at Douglas Elliman, who listed the home.

"It's hard to replicate that," she said.

The property also offered several features that would not be permitted if a homeowner were to build today under village code, including two driveways and a wider than allowed structure, Keats said.

Keats declined to identify the seller, who was the only owner of the house since it was rebuilt in 2004. The house, in the Port Washington school district, has property taxes of about $77,000 a year.

The deal was the sixth to close at more than $8 million on Nassau's North Shore so far this year. It follows a flurry of high-priced sales, including the record-breaking $28.75 million sale of Billy Joel's Centre Island estate.

Last year, only two Gold Coast deals eclipsed the $8 million mark, Newsday previously reported. Those homes were in Lattingtown and Plandome Manor.

In addition to the dock, the backyard includes a saltwater pool, a pool house and an outdoor kitchen equipped with two grills.

The five-bedroom, five-bathroom house offers views of the Sound and the skyline from multiple rooms on the main level as well as from the primary bedroom and bathroom through custom mahogany windows. There's also a wine room with a 3,000-bottle, climate-controlled storage system.

The home was listed in late July at $8.9 million, and the seller never cut the asking price until ultimately accepting the $8.25 million offer, Keats said.

The house sold for well above the median sale price on the North Shore of Nassau County in the fourth quarter, which was up 2.6% to $1.4 million compared with the previous year, according to the latest data from Douglas Elliman and appraisal firm Miller Samuel.

The buyer was a family from New York City who was attracted to the property because of its proximity to Manhattan as well as its updated features that wouldn't require significant renovations, said Rachel King, an associate broker at Serhant who represented the buyer in the deal with agent Elizabeth Quick. King declined to identify the buyer.

Some Gold Coast homes have an opulent style that requires new owners to set aside money for renovations and immediately face a slew of design decisions, King said.

"What made this one special was that it didn't really require much," she said. "It's something that could be enjoyed immediately."

Homebuyers all over Long Island have struggled with a worsening shortage of homes on the market this winter and the Gold Coast is no different. King said the shortage has been exacerbated by the region's snowy winter, which has led homeowners to put off listing until their homes can be photographed in the spring.

Still, even the spring bloom is unlikely to lead to enough listings to satisfy Gold Coast buyers, King said.

"The Gold Coast will continue to outperform because of its scarcity," she said. "There's only so much true waterfront with proximity to Manhattan, and that demand remains very, very strong."

By Jonathan LaMantia

jonathan.lamantia@newsday.com@jonlamantia

Jonathan LaMantia covers residential real estate and other business news on Long Island. He previously covered the business of health care for Crain's New York Business.