Houses on Gin Lane in South Hampton don’t hit the market often, especially those listed for $19.9 million that are meant to be torn down.
The Corcoran Group's Peter Hallock, who is listing the property, says the 2,750-square-foot home is located “where you want to be in the Hamptons.” The house faces the beach and the Atlantic Ocean to the south; to the the north, there are views of Old Town Pond.
The 2,750 square foot home has four bedrooms, five bathrooms and has a two-car garage on 2.36 acres.
The house was first owned by Theodore Gaillard Thomas, a New York City gynecologist, during the mid to late 1800s, according to the Southampton Village Review blog. The current owners, the Walker family, changed the original name of the house, Sandhurst, to Tide End between 1928 and 1930.
“I would think for the price point if someone is going to buy the property it’s more for the land than for the house itself,” Hallock says. “I think it probably would be torn down, and rebuilt. It’s underbuilt for the land.”