A rare 32-acre property in Sagaponack has come on the market. The property, which sits on Poxabogue Pond, is owned by three sisters who purchased the land in the 1980s and are asking $65 million.
The parcel is made up of three lots on the pond — each has a home — built by sisters Marsha, Jane and Linda Held — and three vacant lots, as well as 18 acres of agricultural reserve land that the owners rent out and is currently used to grow corn, says Paul Brennan of Douglas Elliman Real Estate, who is co-listing the property with Ronald White.
“The fact that it’s 32 acres of basically farmland in Sagaponack Village on Poxabogue Pond, you don’t find that anymore,” Brennan says. “It’s very unique.”
Brennan says while there may be interest from builders, the land is ideal for a “compound.”
“I think what we’d like to do, rather than just find builders, is find the person who wants to be in Sagaponack, which is the most expensive ZIP code in the United States, and someone who appreciates the fact that the value is there and create a compound-like property for himself,” he says.