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$1.85M condo has ties to Wall Street moguls

This Southampton Village condominium building is built on

This Southampton Village condominium building is built on land once owned by high-stakes broker James Lawrence Breese and Charles Merrill, of Merrill Lynch. Photo Credit: Douglas Elliman Real Estate

This Southampton Village residence has ties to an estate that was built for a maverick Wall Street investor. It is listed for $1.85 million.

The 2,100-square-foot condominium is part of the 17-acre Whitefield community, which was developed in the early 1980s using “The Orchard,” the sprawling residence of high-stakes Wall Street broker James Lawrence Breese, as its focal point.

The unit for sale is one of the few single-level examples in the community, says listing agent Laura Nigro of Douglas Elliman Real Estate. She is co-listing with Carl Nigro.

A bookcase-lined open living/dining room features a custom wood-burning fireplace. Windows flanking the fireplace provide views toward the community’s rose garden, which has a 144-foot pergola and was designed by architect Stanford White, who is also the namesake of the development. The Orchard was his final commission, Nigro says.

Two bedrooms share a full bathroom, while the master-bedroom suite with large closets has a bathroom en suite. A kitchen has stainless steel appliances, white cabinets and surfaces, and a black-and-white checkerboard tile floor.

Immediately outside the home there is a brick patio with an awning. The community includes an Olympic-size swimming pool, two tennis courts and European-inspired landscaping crafted by the Olmsted Brothers. Garage privileges for one car are included.

For parties, residents can also reserve space in an elaborate event hall — formerly The Orchard’s Renaissance music room, which has painted Italian ceilings and ceiling-high gilded columns.

Stanford White and the firm of McKim, Mead & White designed The Orchard by expanding a circa-1858 Georgian Revival sea captain’s house and using George Washington’s Mount Vernon as a model, according to the book “Houses of the Hamptons 1880-1930” by Gary Lawrance and Anne Surchin.

Facing financial troubles, Breese sold The Orchard and its 30 acres in 1925 to Charles Merrill, co-founder of what became Merrill Lynch, in the 1920s. Amherst College received the land after Lynch died in 1956 and briefly operated a satellite campus there. In 1960, the property was converted to the Nyack Boys School, which folded in the early 1970s and cleared the way for development.

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