Fire Island home by architect Horace Gifford sold for $1.3 million

An oceanfront beach house on Fire Island, one of the last designed by famed Modernist architect Horace Gifford before he died in 1992, recently sold before its scheduled auction date for $1.3 million.

The sellers, Rona and Joe Forstadt, had purchased the home, designed by Gifford in the 1960s, more than 35 years ago. In 1989, after it was nearly destroyed by a fire, Rona Forstadt convinced Gifford to come out of retirement to help restore it.

The couple had listed the five-bedroom, 31/2-bathroom home about one year ago for $2.65 million before deciding to go the auction route. They worked with a company, Platinum Luxury Auctions, which specializes in non-distressed, luxury real estate. They scheduled an auction for late June, though the date was pushed back to allow prospective buyers to do their due diligence before purchasing an oceanfront home, according to Platinum.

The property went into contract before the Aug. 28 auction, with a reserve price of $1.5 million.

Trayor Lesnock, the president of Platinum Luxury Auctions, called the $1.3 million sale price "one of the highest prices year-to-date for oceanfront property on this side of the island, and within our expectations based on our analysis of the marketplace."

The 1,920-square-foot home has an open floor plan with 10-foot ceilings, water views and a minimalist design Gifford was famous for. It sits on .34 acres with 100 feet of direct ocean frontage and has an outdoor shower and dressing area.